Categories: Technical analysis

FTSE 100 index Wave Analysis – 4 January, 2022

• FTSE 100 broke key resistance level 7500.00

• Likely to rise to resistance level 7600.00

FTSE 100 index recently broke above the key resistance level 7500.00 – which accelerated the active impulse waves 3 and (3).

The index earlier reversed up from the key support level 7400.00, former resistance level which has been repeatedly reversing the price from the middle of November.

Given the strong daily uptrend – FTSE 100 index can be expected to rise further toward the next resistance level 7600.00 (target price for the completion of the active impulse wave 3).

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.

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The FxPro Tech Analysis Team
Tags: FTSE 100

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