FTSE has just tested the resistance of 7,452, reaching a high of 7,471 but has now retraced. If the index manages to close above, we may see further upside.

We can see the FTSE 100 has now approached the resistance zone within the triangle drawn on the chart (7,452 - red oval). Currently, the index is trading at around 7,443, It did test the resistance reaching a high of 7,471 but soon retraced. A break and close above this resistance level could indicate that a move higher is possible, with the next level of resistance then at 7,524. Towards the downside, we can see various support levels within this bullish trend, support sits at 7,393 then at 7,371, and then at 7,360. A break below 7,360 would then face the support of 7,325, a move below 7,325 would suggest that the longer-term bearish trend has resumed. Looking at the technical indicators, both indicators are positive with the RSI reading 66.