FTSE 100 heading back to all-time highs?
Yesterday FTSE saw the dip towards 7400 met by buying, with the uptrend eking out another day of existence. The peak since 16 March was marked at 7440, so a breakout above here puts us back in all-time high territory.
Even a break through 7400 would not be the end of the world, and could herald a dip to the rising trendline from the February 27 low. Below this we look to the 50-day simple moving average (SMA) around 7276 and then the 7130 area.