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FTSE 100 rebound takes us into key resistance
The FTSE 100 has rallied into a confluence of resistance, with the 76.4% retracement and descending trendline both coming into play.
This suggests a potential bearish reversal from here, with a rally through 7027 pointing towards a wider retracement of the sell-off from 7115. As such, there is a good chance that we are looking at a retracement here, with a break above 7115 needed to bring about a more confident bullish outlook.