• FTSE 100 broke resistance area
• Likely to rise to resistance level 7600.00
FTSE 100 index recently broke the resistance area located at the intersection of the pivotal resistance level 7500.00 (which stopped the previous impulse waves 5 and (3) at the start of January, as can be seen from the daily FTSE 100 index chart below) and the resistance trendline of the wide daily up channel from the middle of September. The breakout of this resistance area accelerated the active intermediate impulse wave (5).
Given the strong daily uptrend and the rising bullish UK sentiment that can be seen across the equity markets , FTSE 100 index can be expected to rise further toward the next resistance level 7600.00.
