The FTSE is currently trading at 6035 out of hours and this is near the top of the consolidation range. If we see acceptance above 6050 (3 thirty minute candle bars) the FTSE will be on course to making new highs above 6106 and towards 6300.
However if the FTSE fails to capture prices above 6050 and instead makes an established break below 6000 again the index will most likely target an unfilled price gap at 5912 (see chart). So in summary the 6000-6050 range is very important today.
The daily high yesterday was 6024 however the FTSE had a dividend of 12p so we can reduce the gap target to 6012.
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