The Wednesday rebound from just ahead of our support at 6824 reinforced the March bull theme with a further confirmation with the Thursday push as we had flagged to a new recovery high.
A record high close for the FTSE cash market in late February reinforced the overall positive tone, whilst the futures push through 6907.5, the 2014 high on the Monthly chart, but the FTSE futures still needs to make a similar statement as the cash (see below).
Short-term Outlook - Upside Risks:
- March risk (today?) is up to the all-time high at 6995, just ahead of the key psychological 7000!!
- Through her aims for Fibonacci extension levels at 7088, 7123 and maybe 7246 into March.
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Monthly FTSE 100 Future Chart