The FTSE 100 climbs higher as value stocks gain momentum amid the UK’s reopening.
The bullish close above January’s high at 6963 indicates that the bulls are still in charge of the price action despite recent profit-takings.
The next round of rally could set the pre-pandemic level above 7400 as the target in the weeks to come.
In the short term, the index will need to lift the psychological level of 7000. An overbought RSI may cause a temporary pullback, and 6920 would be the closest support in that case.
