cfetrader
Short

FTSE trend reversal ?

FX:UK100   FTSE 100 index of UK listed shares
118 0 2
It appears that FTSE 100             UK since 2000 is in an extended W-X-Y-X-Z correction wave formation, of which the last Z wave is still missing for completion. Furthermore the trading range is rather well defined covering the levels of 3270 to 7000+ approximately. For the future trend, the level of 7000 is absolutely critical and therefore a very close observation is warranted concerning index variations around this level. At present, the blue rising line (3) has been broken, plus traces of negative divergence may be found in the Laguerre RSI and the Bressert stochastic indicators.
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