Technical analysis

FTSE 100 Wave Analysis – 18 June, 2021

• FTSE 100 broke daily up channel

• Likely to fall to support level 0.6900

FTSE 100 index recently broke the support trendline of the narrow daily up channel from May – which accelerated the active minor retracement (iv).

The index is currently close to the round support level 7000.00 (low of the previous minor correction ii from last month).

FTSE 100 can then be expected to fall further toward the next support level 0.6900 (low of the correction (ii) from the middle of May)

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