FTSE 100 Elliott Wave Analysis – Trading Lounge day chart.
FTSE 100 (UK) Elliott Wave technical analysis
Function: Bullish Trend.
Mode: Impulsive.
Structure: Gray wave 3.
Position: Orange wave 5.
Direction next higher degrees: Gray wave 3 (continue).
Details: Gray wave 2 is completed. Now gray wave 3 is in play.
Wave cancel invalidation level: 8,178.07.
The FTSE 100 Elliott Wave analysis on the day chart suggests a bullish trend, characterized by an impulsive mode that reflects strong upward momentum. The primary structure in focus is gray wave 3, part of the ongoing upward trend.
Currently, the market is positioned within orange wave 5 of gray wave 3, indicating that the market is advancing in the final phase of this wave sequence. The analysis shows that gray wave 2 has been completed, and now gray wave 3 is actively pushing the market higher.
The next expected phase is the…
