The FTSE 100 appreciates inaction from the BOE

As noted here a short while ago, the FTSE 100 enjoyed a decent rebound yesterday, rising by 1.42% on the day. The index was surely helped by the BOE keeping rates on hold at 5.25% and the outlook continues to suggest the UK central Bank is determined not to move again anytime soon. So, the FTSE 100 closed 104 points higher, at 7,446. The session high was set at 7,469. For the time being it seems the hitherto  risks of a test of the important 7,200 level has been avoided. The FTSE 100 futures are suggesting a higher opening this morning too, with right now close to, or above 7,470. However, the official opening for this index is always where it set its previous close, but that is also always just a book entry and not a price to trade on. Just above the current indicative levels, we so have a potential resistance level. That is the 21 day moving average and it was in place, as of the close yesterday, at 7,475.