FTSE ekes out gains
The FTSE has been seeing very minimal gains over the past 24 hours, following on from a big rally late into Tuesday’s trading. However, we continue to create new highs and while we are seeing a pullback, the key support level of 6319 remains intact. Thus while this chart is clearly lacking the momentum, we have not yet seen a close below 6319, and therefore the bullish outlook remains.
A close below 6319 would provide a warning sign that would need to be confirmed by a lower high. Support levels to watch are at 6330, 6319 and 6300. Resistance levels in view are 6356, 6368 and 6376.