Taking a closer look at the FTSE 100, the index has faltered at the psychological 6800 level, which in turn puts support in focus at 6624 (61.8% Fibonacci retracement). That said, the index appears to be coiling for a breakout as trendline support from December keeps the uptrend intact. As it stands, the two areas of interest are 6300 and 6900, should the index close above 6900 a move to 7000 can be expected in short order, while a break below 6300 would likely invalidate the bullish outlook for the index and thus open up a move towards 6000.

 

FTSE 100 20210322 11.26

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