FTSE/UK100 support zone?

FX:UK100   FTSE 100 Index
200 6 2
The FTSE             is at a confluence level of trendline and 50% fib. It also has a similar pullback to its previous two pullbacks. If Santa is going to show up, could it be here?
GOOD CALL!!! - above 6645 still bullish.
fxtrader66 piloteiat
This is what I am thinking now with the ftse, either it stops at recent highs 6819 or reaches its target at 7036
The FTSE found support at its 50% fib and ripped out of it. To continue with its rally, it needs to take out a downward trendline that has been acting as resistance since the pullback started.
could start a 4th wave correction soon, but then probably lower:
fxtrader66 piloteiat
All markets seem frothy, so it would make sense if they correct more.
piloteiat fxtrader66
Will closely watch these three ratios next week on daily charts:
If bonds correct more to the upside, good chances for a suprise washout before Santa.
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