• FTSE 100 broke key resistance level 6643.00
• Likely to rise to 6875.00

FTSE 100 Index today broke sharply above the key resistance level 6643.00 (which has been reversing this index from the start of December as can be seen from the daily FTSE 100 chart below). The breakout of the resistance level 6643.00 is aligned with the predominant uptrend inside which the index has been trading from the end of March.

Given the strength of the recently broken price level 6643.00 (which is acting as the support after it was broken) –  – FTSE 100 is expected to rise further toward the next resistance level 6875.00 (former monthly top from March from last year – which ended the earlier sharp upward correction (4)).