UK enters lockdown

FTSE 100 Technical Analysis Report 16 April, 2021

• FTSE 100 broke key resistance level 6965.00
• Likely to fall to resistance level 7200.00

FTSE 100 index continues to rise strongly after the price broke above the key resistance level 6965.00 (former multi-month high from the start of January). The breakout of the resistance level 6965.00 accelerated the active impulse wave (v) – which belongs to wave B from the end for December.

Given the prevailing uptrend that can be seen on the daily FTSE 100 index and the expectations of the faster recovery in UK dues to much faster vaccination programme than in EU – FTSE 100 index can be expected to rise further toward the next resistance level 7200.00 (target price for the completion of the active wave B).

Was this post helpful?