FTSE 100 remains under pressure after the UK’s inflation doubled to 1.5% last month. The surge from the demand area near 6840 indicates buyers’ commitment to keep the boat afloat.
Recent whipsaws are a strong sign of the market’s indecision in the short term. Sideways action may offer opportunities for range trading.
The psychological level of 6900 is a demand area. An oversold RSI could help lift the index temporarily.
7066 is the immediate resistance and its breach could send the price back to 7166.
