Overall bias on FTSE is bullish.
After a very obvious rejection of 7200, we can see that the resistance at 7240 didn't hold and FTSE broke through with ease.
Looking at the chart and the areas highlighted as support and resistance we see that if buyers can break above 7280 then they are clear to go higher (possibly 7400).
In a bearish case 7280 holds as resistance or we fall from here to go and retest 7200 as support and maybe 7100 again.
After a very obvious rejection of 7200, we can see that the resistance at 7240 didn't hold and FTSE broke through with ease.
Looking at the chart and the areas highlighted as support and resistance we see that if buyers can break above 7280 then they are clear to go higher (possibly 7400).
In a bearish case 7280 holds as resistance or we fall from here to go and retest 7200 as support and maybe 7100 again.
