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FTSE 100 narrowly avoids a close below 200 day moving average

An update here yesterday afternoon noted the fall below 7,600 in the FTSE 100 as coming close to setting a potential close below its 200 day moving average. That was in place then at 7,570. The FTSE traded as low as 7,576.59 and that is exactly where it closed too. So, as you can see, the 200 day moving average capped the downside. Earlier in the day the FTSE had traded as high as 7,693. The rebound in oil prices today, coupled with the recovery in the US markets last night have helped the FTSE 100 futures to rise this morning and the index is now set to open above 7,600 shortly. Notwithstanding that though, that 200 day moving average is still on the radar here this morning. 
 

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