Categories: Technical analysis

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).

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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