FTSE breaking higher following downturn
The FTSE seems to be back in the driving seat after a period of weakness, which brought the index back below the crucial 7127 mark. The break higher from a descending channel brought price back into the key 7205 swing high which, if broken, would provide an even greater bullish bias.
However, for now, it looks like we could see some form of a pullback, which could provide us with a bullish buying opportunity. As such, a bullish short-term bias is in play, with a break back below 7127 required to negate that view.