A London Stock Exchange sign sits on glass in the atrium of the London Stock Exchange Group Plc's offices in Paternoster Square in London, U.K., on Monday, July 25, 2016. Deutsche Boerse AG has yet to secure shareholder acceptance for its 10.6 billion-pound ($13.9 billion) takeover of London Stock Exchange Group Plc, although it edged closer with 55.5 percent of investors giving it the go ahead. Photographer: Chris Ratcliffe/Bloomberg
• FTSE 100 broke key resistance level 7620.00
• Likely to rise to resistance level 7800.00
FTSE 100 index recently broke above the key resistance level 7620.00 (which has been reversing the price from the middle of January as can be seen from the daily FTSE 100 chart below).
The breakout of the resistance level 7620.00 accelerated the active minor impulse wave (iii) of wave 3 from last September.
Given the overdriving uptrend – FTSE 100 index can be expected to rise further toward the next resistance level 7800.00 (target for the completion of the active impulse wave 3, top of the daily up channel from November).
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