FTSE 100 Index Wave Analysis 15 March, 2021

• FTSE 100 Index reversed from resistance level 6800.00

• Likely to fall to support level 6675.00

FTSE 100 Index today reversed down from the resistance level 6800.00 (which has been reversing the price from January) – standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 6800.00 stopped the previous intermediate impulse wave (3) from last month.

With the overbought reading on the daily Stochastic – FTSE 100 Index is likely to fall further toward the next support level 6675.00 (former resistance from the end of February).