FTSE 100 is on its way to post the fourth consecutive session of daily gains on the back of the strong corporate earnings. The index has moved above the 200 DMA and it now approaches the 100 DMA at 7337.
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Moreover, information provider RELX also trades 3.1% higher while Aveva Group shares are up 2.2% on the back of the accelerated growth in the first half of the year.
Technically, FTSE 100 is currently testing the descending trend line resistance following a clearance of the 200 DMA resistance. A close above the 200 DMA will pave the way for a more sustainable test of the 100 DMA that sits at 7337, around 17 points from the current market price.