FTSE INTRADAY bullish breakout continuation above 8590The FTSE 100 is showing bullish momentum, supported by an ongoing uptrend. Recent price action suggests a breakout above a period of sideways consolidation, indicating strong buying interest.
Key Support: 8590 – This was the previous consolidation zone and now acts as a critical level.
If the index pulls back to 8590 and holds, it may resume the uptrend with potential upside targets at:
8810 (near-term resistance)
8850, then 8920 (longer-term targets)
Bearish Scenario: A daily close below 8590 would weaken the bullish case and could lead to a decline toward:
8480 (next support)
Then 8420 if selling pressure increases
Conclusion:
The FTSE 100 remains bullish above 8590. Watch for a bounce from this level to confirm further upside. A break below would shift the outlook to bearish in the short term.
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