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FTSE100 MACD is pointing north along with the RSI

In the previous week, the FTSE 100 index started on a negative note, reversing its trend later in the week and only to post small weekly gains. The FTSE 100 index closed at 6444.08 on Friday, after hitting a high at 6487.89. Currently, weekly MACD is pointing north along with the RSI and stochastic heading upwards, suggesting at potential bullish momentum in the coming week. Moreover, daily MACD and is trading in the positive territory, along with the RSI and stochastic trading with a bullish bias, further endorsing the above view. Important daily obstacle to be seen is situated at the 6486/90 level, followed by the 6525 and 6558/60 levels. The ability to capture the latter on a weekly closing basis might trigger bullishness in the index, clearing way for the daily upper Bollinger band (currently trading at 6587/90) and 6635 as the next potential resistances. On the other hand, important near term support is located at the 6428/25 level, followed by the 6391/90 and 6317/14 levels

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