– FTSE 100 index reversed from key support level 8130.00
– Likely to rise to resistance level 8300.00,
FTSE 100 index recently reversed up from the key support level 8130.00 (which has been steadily reversing the price from the end of April) – strengthened by the lower daily Bollinger Band and the 50% Fibonacci correction of the sharp upward impulse from April.
The upward reversal from the support level 8130.00 stopped the previous short-term impulse wave 1.
Given the clear daily uptrend, FTSE 100 index can be expected to rise further toward the next resistance level 8300.00, top of the earlier correction B.
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