FTSE100 – eyes 7K if daily close is above 6900
At the time of writing, the index was trading around 6930. The trend line resistance at 6900 is now a strong support.
The index needs to end the day above 6930 in which case 7K level could be put to test.
The hourly and 4-hr RSI is overbought now, hence a minor pull back to 6900 cannot be ruled out. However, fresh demand around 6900 is likely and on a larger scheme of things the index appears poised to test 7K levels.
The index needs to end the day above 6930 in which case 7K level could be put to test.
The hourly and 4-hr RSI is overbought now, hence a minor pull back to 6900 cannot be ruled out. However, fresh demand around 6900 is likely and on a larger scheme of things the index appears poised to test 7K levels.
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