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FTSE 100 pushing upwards after overnight decline
The FTSE 100 managed to break through the crucial 7050 swing high on Monday, with that break negating the short-term creation of lower highs and lows.
A break through the 7115 level would provide a substantially more confident bullish view, yet for now we are seeing a short-term bullish pattern playing out. The creation of a new higher high and subsequent retracement points towards this current rally pushing us through the 7087 and 7115 region. Should that occur, it would bring about a much more bullish picture for the index.
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