thierryladuguie

FTSE 100 still is a downward channel

FX:UK100   FTSE 100 index of UK listed shares
50 0 4
this channel contains an Elliott wave in five waves and the recent high is the top of wave 4. If however wave 4 takes the shape of a triangle, the recent high is wave (a) inside wave 4. In this scenario the FTSE             will bounce back to the upper line as the current decline is wave (b) and the bounce will be wave (c). A break above the upper line ans above 6765 would be bullish as this would imply a trend reversal.
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