The FTSE 100 breaks higher as confidence grew after fresh highs on Wall Street. The rally above August’s high at 7220 is an indication of a strong commitment from the long side.
Breakout candles and a bullish MA cross confirm that the uptrend has resumed. The index is now on its way to the pre-pandemic level around 7550.
7350 would be an intermediate hurdle as an overbought RSI may trigger some profit-taking. 7220 has become fresh support if the bulls need to catch their breath.
