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European stocks continue to advance- check out the FTSE 100 now

The European markets have continued to accentuate the positive so far this morning. All the major indexes have held their opening gains in the first couple of hours of trade. Perhaps the most notable in that sense is the rebound in the FTSE 100. The index has now rebounded back to 7,860, despite the sticky UK inflation data and higher Pound that has produced. Once again the reader is drawn towards gains in basic resources and metals to explain that. The 21 day moving average is still rising and in place right now at 7,900. Ahead of that lies resistance around the 7,880 level from the technical breakdown seen yesterday. It remains to be seen, if the index rebound today will stall ahead of those levels, but it would be no surprise if that were the case. The FTSE 100 is currently trading 7,855
 

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