FTSE 100 looks like holding another technically positive close

Yesterday the FTSE 100 managed to forge out a daily close above its 200 day moving average, then in place just above 8,121. That marked an end to a run of several session where it had not done so. The index closed at 8,149.27. Earlier today the index rebounded from data disappointments delivered by the latest retail sales data and the weaker than expected PMI numbers. The FTSE 100 has continued to press higher this afternoon and a short while ago it reached session highs near 8,275. That is actually a very strong performance really and certainly one that belies the data we saw earlier. UK yields have fallen today and so has the GBP/USD of course and with oil generally still on the rebound, all those factors have helped underpin what looks likely to be a positive end to the week for the index. So, at this stage it would seem highly likely the index will set another technically positive close, this time well above its 200 day moving average (in place now 8,125.25). The FTSE 100 is currently trading at 8,262