The FTSE 100 rises as moderate global growth boosts hopes of continued monetary stimulus.
The index has bounced off the demand area around 7125 which lies on the 30-day moving average. This is an indication that the bulls are still in control.
7210 is the main hurdle from the August sell-off and its breach could put the rally back on track. Then 7300 would be the next target. Though an overbought RSI may temporarily hold the bullish bias back.
On the downside, 7075 would be another support if the sideways action lingers on.
