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FTSE 100 rebounds from support zone
The FTSE 100 has managed to bounce from the bottom end of the 7553-7600 support zone, with the price pushing through the 7659 resistance level.
This points towards a likely further push upwards, in a move that is either a retracement of the downturn from 7796, or the beginning of a full recovery. A break through that level would signal a likely push on towards the previous highs of 7903. However, until that happens, this short-term bounce could yet be fleeting, with Fibonacci resistance worth watching around 7699 and 7736.
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