FTSE 100 poised for an effective opening above its 200 day moving average

Yesterday the FTSE 100 was the outlier amongst the major European stock markets and as noted earlier, that was in a positive way. The index closed 0.57% higher, rising by 45.71 points, ending the session at 8,109.32. That close was the high point of the day and it was just below the 200 day moving average, in place then at 8,114. Perhaps that rise was not a surprise, if one takes a look at the oil price action yesterday afternoon, which clearly supported that higher close in the FTSE. The index is set to open higher this morning too. In fact that opening is right now priced to see the index effectively resume live trading above its 200 day moving average. We shall have to see just how this pans out, when the index reopens in around 20 minutes. It is currently pricing an effective opening at around 8,140