The FTSE 100 hit a speed bump after a flat UK GDP reading in October. The psychological level of 7000 near October’s lows has offered strong support.
Sentiment turned around after a bullish close above the daily resistance at 7310. The RSI shot into the overbought area, causing a temporary pullback.
Buying interest could be expected around 7250 as sellers switch sides. A rebound may test the previous peak at 7400 and then resume the rally.
On the downside, 7110 would be the second line of defense.
