FTSE 100 Wave Analysis – 16 June, 2022

• FTSE 100 broke key support level 7166.00
• Likely to fall to support level 7050.00

FTSE 100 index under the bearish pressure after the price broke the key support level 7166.00 (which has been reversing the index from the start of May).

The breakout of the support level 7166.00 coincided with the breakout of the 50% Fibonacci correction of the upward impulse from March.

FTSE 100 can be expected to fall further toward the next support level 7050.00 (low of wave (b) from the start of March).