FTSE 100 pushes higher regardless of Italian referendum
The index has opened higher despite the result from Italy, moving off the lows of last week around 6680. It has continued to push higher towards 6800, although for now it seems as if the 200-hour simple moving average (SMA) – 6787 – is preventing further gains.
It would take a firm breach of 6800 to indicate the weakness of the past week has run its course. Bears now have to get the price back below 6740, and then break 6680 to confirm a new move lower is in play.