FTSE higher following yesterday’s sell-off
The FTSE is punching higher today, in the wake of yesterday’s sharp move lower. Crucially, we saw the price tumble back into the vital swing low of 7357 before pushing higher from the brink. We still have a lot of room to regain, and thus further upside seems likely from here.
Given we are now faced with flat-lining lows rather than higher lows, it throws a question mark on whether it will have enough strength to break through the 7516 mark. However, until we break back below 7357, there is a good chance we will see the bulls remain in charge to continue the resurgence we have seen so far this month.