FTSE resurgence continues
The FTSE 100 continues to push higher, with yesterday seeing yet another sharp rally for the benchmark. We are seeing a period of consolidation overnight, with price currently moving higher towards the overnight 6922 level. Given the recent trend, there is reason to believe that the next move will be higher.
With that in mind, further upside is expected, yet we need to ascertain whether we will push higher from here, or retrace some of yesterday’s moves first. As such, a bullish view is in play unless we see an hourly close below 6808. We would need to see an hourly close below 6893 to provide evidence that we are about to see a retracement lower before another move higher.