FTSE bounced hard on Friday fuelled by the massive Conservative victory!
Charting and predicting FTSE continues to be challenging given the continuous
yo-yo action.
This chart suggests that as a possibility (there are other alternatives) FTSE is in a large
triangle correction that began at the high of 7900.
Recent action now suggests that wave C circle of this large triangle is taking the form
of a W,X,Y double zig-zag as shown on the chart. If correct FYSE may bounce to the upper
channel trendline before starting wave Y which will take FTSE down to around 6750 ish.
Good Luck
Charting and predicting FTSE continues to be challenging given the continuous
yo-yo action.
This chart suggests that as a possibility (there are other alternatives) FTSE is in a large
triangle correction that began at the high of 7900.
Recent action now suggests that wave C circle of this large triangle is taking the form
of a W,X,Y double zig-zag as shown on the chart. If correct FYSE may bounce to the upper
channel trendline before starting wave Y which will take FTSE down to around 6750 ish.
Good Luck