FTSE 100 had a strong rise on Friday, closing above the 100-day MA at 7,797. The 20-day MA is now the next point of resistance now at 7,852.

Taking a look at the FTSE 100 index after it had a strong day Friday post its recent retracement. The FTSE 100 reverted back after a couple of weeks of straight upside, testing the support of the 50-day moving average on the daily timeframe. On Friday it had a strong day closing above the 100-day moving average at 7,797 (100 MA point to 7,787). Following the rise, the 100 MA is now acting as support at 7,787 followed by support along the 50 MA at 7702. A break and close below the 50 MA could see the index slide further towards around 7,600. On the other hand, towards the upside, resistance sits at 7,852 (20-day MA) and then at 7,897. A break above 7,897 could see a stretch towards the high of 7,938, which in turn may lead to an attempt of reaching all-time highs again. Looking at the technical indicators, MACD is negative but volume is lowering and RSI is neutral as it reads 49.