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FTSE 100 keeps on rallying
A new high last week provides confirmation that a rally on FTSE is still in place here on a daily time frame. Even just taking the late February low as a starting point would mean that we could see a pullback all the way towards 7340 and still be in a short-term rally.
Only a daily close below the 9 March low of 7260 would really signal that a new move lower is underway. On the upside, the 7440 area is where the rally stalled last week and so this is the area to watch for a breakout.