Technical analysis

FTSE 100 Wave Analysis 4 May, 2021

• FTSE 100 reversed from resistance level 7035.00

• Likely to fall to support level 6860.00

FTSE 100 index recently reversed down from the key resistance level 7035.00 (top of the previous wave B) – strengthened by the upper daily Bollinger Band.

The downward reversal from the resistance level 7035.00 started the active short-term corrective wave (b).

FTSE 100 index is likely to fall further toward the next support level 6860.00 (low of the previous waves (iv) and (i) and the target for the completion of the active wave (b))).

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