Categories: Technical analysis

FTSE 100 Wave Analysis – 23 May, 2022

• FTSE 100 reversed from support zone
• Likely to rise to resistance level 7550.00

FTSE 100 index recently reversed up from the support zone lying between the support level 7225.00, lower daily Bollinger Band and the 50% Fibonacci retracement of the upward correction 2 from March.

The upward reversal from this support zone stopped the previous downward impulse waves (iii) and 3.

FTSE 100 can be expected to rise further toward the next resistance level 7550.00 (top of the earlier minor correction (ii)).

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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Tags: FTSE 100

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