Technical analysis

FTSE 100 Wave Analysis – 10 April 2023


• FTSE 100 broke key resistance level 7600.00

• Likely to rise to resistance level 7800.00

FTSE 100 index recently broke the key resistance level 7600.00 (former top of the impulse wave 1 from the middle of March).

The breakout of the resistance level 7600.00 coincided with the breakout of the 50% Fibonacci correction of the previous sharp downward impulse wave C from the start of last month.

Given the strong daily uptrend, FTSE 100 index can then be expected to rise further toward the next resistance level 7800.00.

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