5640 held yesterday and we duly saw the rally towards 5700-5720 we were expecting. The FTSE will now struggle to make progress above 5720 until we see a decent pull back towards 5550. Can the FTSE rise higher than 5720? It all depends on the Non Farm Payrolls report on Friday. I won't be trading on this day (except for maybe a quick gap play in the morning session) as the reaction to the report will dictate how we trade the FTSE next week.
Today the US markets are closed so the FTSE could consolidate this afternoon.
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