FTSE holding below 7535/30 keeps the outlook more negative for a retest of support at 7510/05. Not sure I would try longs here today - I am worried about the downside - be ready to sell a break below 7490 to target 7460/55. Watch for a bounce from here in short term oversold conditions. Longs need stops below 7435. Just be aware that further losses target 7418/13 then 7380/70.
First resistance at 7530/35 but above 7540 could retest the 7586/89 all time high. Just as important is 8 month trend line resistance now at 7595/99 in severely overbought conditions. Bulls will need a sustained break above 7610, with a 2 day close above at the very least for further bullish confirmation targeting 7635/40 and eventually 7690/7700.