FTSE 100: ⬆️ Buy
– FTSE 100 reversed from support zone
– Likely to rise to resistance level 10600.00
FTSE 100 index recently reversed up from the support zone between the key support level 10400.00 (which has been reversing the price from June), support trendline of the daily down channel from the end of July, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from March.
The upward reversal from this support zone stopped the earlier short-term impulse wave (i) of the –wave from the middle of September – that belongs to the AB correction from July.
Given the strength of the support level 10400.00, FTSE 100 index can be expected to rise further toward the next resistance level 10600.00 – former support from the middle of September that stopped earleir wave A.
, support trendline of the daily down channel from the end of July, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from March.){kind=link}