FTSE 100 aims to clear 7720 hurdle
The push higher gathered pace yesterday, with the FTSE 100 returning to the key 7720 area that has acted as a stumbling block to further progress since the middle of May.
A definitively bullish development would require a close above 7800, clearing the zone of resistance that has been so persistent. From here, 7900 comes into play. The overall upward move seen since mid-June is intact, and it would require a move below 7600 to suggest this is weakening, and then a close below 7540 to suggest that the sellers are back in control.