Categories: 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.

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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