Footsie Hasn’t Topped Yet; Shows Bullish Pattern
Oct 8, 2024

FTSE100

We talked about Footsie back in May 2024, where we mentioned and highlighted an ongoing 5th wave in the weekly chart with space up to 8800 – 9400 target area. CLICK HERE

Footsie a.k.a. FTSE100 or UK100 stock market index is still bullish with nice and clean inverted H&S pattern in the 4-hour chart. After a higher degree A-B-C correction in wave (4), it can be getting ready for a bullish continuation within wave (5) by a new lower degree bullish setup formation. With sharp leg up into wave 1, we are actually tracking an a-b-c pullback in wave 2, where subwave »c« is coming out of subwave »b« triangle, so ideal support is at 8100 – 8000 area, from where we should be aware of a bullish resumption for wave 3 of a five-wave bullish cycle.

Footsie Hasn't Topped Yet; Shows Bullish Pattern FTSE100 4H Chart
FTSE100 4H Chart

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