FTSE 100 regaining lost ground
The FTSE 100 has been gradually making up the lost ground following the gap lower at the open yesterday. Given the break through 7446 last week, it seems likely that we will see further gains before long. However, there is a good chance that, given the strong move higher last week, we could see the index come off further before moving back into the bullish mindset.
With that in mind, an hourly close above 7460 would provide a renewed bullish outlook. Until then, short-term losses remain a strong possibility due to the wide swings seen in recent weeks.