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FTSE 100 eyes 6200 as buyers return
After a session yesterday that resembled a paint-drying extravaganza, the index has finally begun to move again. Dips towards 6050 continued to bring out the buyers yesterday, and the index now looks set on moving back in the direction of 6200, and the September peak so far around 6216.
There continues to be rising support from the trendline off the August lows, with support coming in around 6130 on the four-hour chart. The daily RSI has moved closer towards the 50 mid-point, indicating that buyers continue to have the upper hand. However, the index has still to break out from current triangle, although a move above 6200 would accomplish this.