The magnet target at 5927 was hit last night at 7.30pm so in terms of immediate upside the FTSE has done what it needed to. The question is will we see continued positive development from this level. The answer lies with 5910 (yesterdays daily market high). As well as being the market high you will also notice on the 10 minute chart that there were 2 powerful rejections from this area that resulted in the FTSE losing 30 points in moments. When you see this sort of price action if signifies an important area (see attached chart).
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