Technical analysis

FTSE 100 Index Wave Analysis 12 June 2024

– FTSE 100 Index reversed from support level 8140.00

– Likely to rise to resistance 8300.00

FTSE 100 Index recently reversed up from the pivotal support level 8140.00 (which also stopped the previous correction A at the end of May).

The support level 8140.00 was further strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the upward impulse from April.

Given the clear daily uptrend, FTSE 100 Index be expected to rise further to the next resistance 8300.00, which has been reversing the index from May.

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