Technical analysis

FTSE 100 Wave Analysis – 10 March 2023

• FTSE 100 falling inside (c)-wave

• Likely to reach support level 7600.00

FTSE 100 index falling sharply inside the (c)-wave of the sharp ABC correction 2 from the middle of February.

The price earlier broke the daily up channel from October, 50-day moving average and the support level 7725.00 (previous support from January).

FTSE 100 index can be expected to fall further toward the next support level 7600.00 (former multi-month high from December).

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