FTSE 100 pullback bringing another turn higher
The FTSE 100 drifted into trendline support overnight, with the recent uptrend remaining on track amid a turn higher in recent price action.
The price is clearly in a low volatility phase, with the Bollinger band squeezing to highlight such a move. This current turn higher points towards a move back into the near-term resistance level of 7752, above which we have the all-time high of 7796. A break below 7685 would negate this bullish outlook.