• FTSE 100 index reversed from resistance area
• Likely to fall to resistance level 88.40
FTSE 100 index continues to fall inside the intermediate correction (2), which started earlier, when the index failed to hold the ground above the powerful resistance area located between the key resistance level 7211.00 (multi-month high from the middle of June) and the upper daily Bollinger band.
Given the strength of the aforementioned resistance area, FTSE 100 index can be expected to fall further toward the next support 7100.00 (which stopped the previous minor corrective wave 4 at the start of August, as can be seen from the FTSE 100 chart below).
