FTSE 100 Wave Analysis – 13 October, 2022

• FTSE 100 falling inside impulse wave 5

• Likely to fall to support at 6700.00

FTSE 100 index continues to fall inside the sharp downward impulse wave 5 which started earlier from the key resistance level 7125.00 (previous monthly low from April), intersecting with the 20-day moving average.

The active impulse wave 5 belongs to the intermediate impulse wave (C) from the middle of August. FTSE 100 index can be expected to fall further toward the next support level 6780.00 (low of wave 3) – the breakout of which can lead to further losses toward the round support at 6700.00.