A London Stock Exchange sign sits on glass in the atrium of the London Stock Exchange Group Plc's offices in Paternoster Square in London, U.K., on Monday, July 25, 2016. Deutsche Boerse AG has yet to secure shareholder acceptance for its 10.6 billion-pound ($13.9 billion) takeover of London Stock Exchange Group Plc, although it edged closer with 55.5 percent of investors giving it the go ahead. Photographer: Chris Ratcliffe/Bloomberg
• FTSE reversed from support level 7400.00
• Likely to rise to resistance level 7635.00
FTSE index continues to rise after the index reversed up from the key support level 7400.00 (former top of waves 1 and (i) from November and December).
The support zone near the support level 7400.00 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse from November.
Given the clear daily uptrend – FTSE can be expected to rise further toward the next resistance level 7635.00 (top of the previous impulse from the middle of this month).
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