FTSE 100 winding up for a breakout?UK 100 CFDFOREXCOM:UK100FOREXcomTuesday's candle delivered a textbook tombstone doji, comprehensively rejecting the latest breakout attempt. Even so, with the price sitting within an established ascending triangle structure, it feels like our FTSE 100 contract may soon deliver a successful breakout, putting a retest of the record high at 10,938 in play. The focal point overhead is 10,589, the swing high set back in mid-May. The price briefly traded above that level overnight but failed to hold. A sustained break above 10,589, preferably followed by a successful backtest of the level, would strengthen the bullish case, allowing longs to be set with a tight stop beneath 10,589 for protection, targeting the record high. The early April swing high at 10,730 is another level of note, but it's viewed more as an interim hurdle than the primary target. The oscillators lean modestly in favour of the bulls, but not decisively so. The broader technical picture is more compelling. The price is holding above its key medium- and longer-term moving averages, having bounced from both the 50 and 100-day moving averages over the past fortnight. It feels squeezy. A break below the uptrend running from the early June lows would invalidate the bullish setup. Good luck! DS