• FTSE 100 reversed from support level 7177.00
• Likely to rise to resistance level 7376.00
FTSE 100 index recently reversed up with the daily hammer from the powerful support level 7177.00 (former strong resistance from May, June and September) standing near the 50% Fibonacci correction of the upward impulse (i).
The upward reversal from the support level 7177.00 stopped the previous ABC correction (ii).
FTSE 100 can be expected to rise further toward the next resistance level 7376.00 (top of the earlier impulse waves (i) and i).
