British stock market finds some kind of resistance

The FTSE100 index from the United Kingdom has had a good uptrend, as we can see on the 4 hour chart, since it made its latest low at the 6436 level. At the moment, the index is at its 200 period exponential moving average on the same 4 hour chart, around the 6678, where it is trying to stall its rally. Even though the index has tried to break to the upside its 200 EMA, it has not been able to confirm such breakout. None the less, the bullish trend is still in place and if the UK fundamentals keep coming out positive, it is possible to see a breakout of the 6713 level. In case the index keeps heading higher, then the 6761 could act as resistance as it did in the past. The stochastic indicator (green line) has reached the 80% level, but it has crossed below its signal line (red line), indicating that there could be a correction to the downside, due to the fact that the index is over-extended to the upside.