Technical analysis

FTSE 100 Wave Analysis – 17 April 2023

• FTSE 100 rising inside impulse wave 3

• Likely to reach resistance level 7960.00

FTSE 100 index rising inside the sharp minor impulse wave 3, which previously broke above the resistance level 7800.00 (upward target set in our earlier report for this index).

The active impulse wave 3 belongs to the intermediate impulse wave (3) from the middle of March.

Given the prevailing daily uptrend, FTSE 100 index can then be expected to rise further toward the next resistance level 7960.00 (target for the completion of the active impulse wave 3).

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