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FTSE 100 eyes 6150
Even with the rapid drop at the end of last week, there is still hope for a festive rally. In early trading there is already an indication of this, with the move back towards 6100 underway.
The 50-hour simple moving average at 6078 has already been broken, and a close above here on the hourly chart would suggest the index is on its way back to 6150 and then 6195.
The 6000 mark continues to hold as support, so we need to see a move through here to give the bears some Christmas sustenance, with a target around 5874.