FTSE 100 Wave Analysis – 10 February, 2022

• FTSE 100 broke key resistance level 7620.00

• Likely to rise to resistance level 7800.00

FTSE 100 index recently broke above the key resistance level 7620.00 (which has been reversing the price from the middle of January as can be seen from the daily FTSE 100 chart below).

The breakout of the resistance level 7620.00 accelerated the active minor impulse wave (iii) of wave 3 from last September.

Given the overdriving uptrend – FTSE 100 index can be expected to rise further toward the next resistance level 7800.00 (target for the completion of the active impulse wave 3, top of the daily up channel from November).