Categories: 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.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: FTSE 100

Recent Posts

3M Wave Analysis 28 June 2024

- 3M reversed from strong resistance level 103.55 - Likely to fall to support level…

4 hours ago

Adobe Wave Analysis 28 June 2024

- Adobe rising in inside accelerated impulse wave C - Likely to reach resistance level…

4 hours ago

Natural gas Wave Analysis 27 June 2024

- Natural gas reversed from resistance zone - Likely to fall to support level 2.6000…

1 day ago

Gold Wave Analysis 27 June 2024

- Gold reversed from support level 2300.00 - Likely to rise to resistance level 2365.00…

1 day ago

Yen: a managing decline

The Japanese yen has fallen to its lowest since 1986 against the dollar and a…

1 day ago

Buyers failed to pick up on the crypto market

Market Picture The crypto market has been under moderate but persistent pressure throughout Wednesday, losing…

2 days ago

This website uses cookies