FTSE Wave Analysis 27 January, 2021

• FTSE broke support level 6640.00

• Likely to fall to 6445.00

FTSE index continues to fall after the price broke the key support level 6640.00 (former resistance from December – which stopped the previous minor impulse wave 1)

The breakout of the support level 6640.00 coincided with the breakout of the daily up channel from November.

FTSE is expected to fall further toward the next support level 6445.00 (target price for the completion of the active impulse wave 3).