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FTSE 100 finds the strength to bounce
Last week was one of those consolidation weeks for the FTSE 100, where trench warfare between the bulls and bears saw the index make little meaningful progress.
However, we have begun to see a push above the downtrend line from the May record high. A daily close above this line, and then further progress above 7730, would likely signal a fresh push higher is underway, targeting 7800 and 7903. A close below Friday’s low of 7638 is needed to create a more bearish picture.