FTSE Broke-out of Consolidation Range

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FTSE dived into consolidation mode on the 16th May 2012 and has since formed a clear price range. On 1st June, Price made a false breakout (circled) down south and started shooting upwards.

The 4 hour chart above shows strong momentum upwards and price has broken above the 5410 Resistance level and out of the range with conviction. Price Action traders will now wait to see where the FTSE daily bar would close by the end of the day for confirmation that the bulls are back.

Thank you and happy trading!

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