FTSE 100 Future Re-Energized Bull Bias

A probe to another new record high to 7061 after high level consolidation this week of the strong rally last week, having previously defended support, at 6875/71.5.

We favour further bullish extensions to upside targets into April.

For Today:

We see an upside bias for 7061; break here aims for extension target at 7088, maybe to 7100, which we would look to try to cap.

But below 6989 opens risk down to 6931, which we would look to try to hold.

Short/ Intermediate-term Outlook – Upside Risks:

We now see a more positive tone with the bullish threat through the new record high at 7061.

Above here targets 7088, 7123 and 7178.

What Changes This? Below 6795 eases bull risks; through 6683 signals a neutral tone, only shifting negative below 6618.

Momentum: The 8-day RSI, short-term momentum is positive, but not OB, leaving scope to go still higher this week.

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Daily FTSE 100 Future Chart[/caption]