FTSE 100 index Wave Analysis 19 June 2024

– FTSE 100 index reversed from support level 8140.00

– Likely to rise to resistance level 8300.00

FTSE 100 index recently reversed up from the key support level 8140.00 (which has been reversing the price from the end of April), intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 8140.00 completed the previous intermediate ABC correction (4).

Given the strength of the support level 8140.00, FTSE 100 index can be expected to rise further to the next resistance level 8300.00, which stopped the price at the start of June.