FTSE holding below 7510/05 keeps the pressure on for a retest of 7460/55. A break lower is more possible today however to target 7418/13 then good support at 7380/70. Watch for a bounce from here. However if we continue lower expect very strong support at 7335/25. Below here we would need to hold the 100 day moving average at 7280/75 for bulls to remain in longer term control.
First resistance at 7505/10 should be the the main challenge for bulls today. Above targets more minor resistance at 7535/40. Above 7545 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 weekly close above on Friday for further bullish confirmation targeting 7635/40 and eventually 7690/7700.