FTSE is testing the all-time highÂ
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FTSE bounced from the long-term strong support confluence 4600 and has now reached the previous high from 2019. This is now a strong upside resistance 7165 and it could be the end of the 5th wave if we get a rejection and reversal from here. A breakout above 7165 is needed in the long run for the upside extension to 7600 and higher.
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On the weekly chart, we can see that FTSE is inside the medium-term rising wedge which could be broken but we don’t have a confirmation of a downside break yet. For a confirmed breakout to the downside, we need to see price action below 6900.
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On a daily chart, we can see that the Already a member? This article is so good, it’s for premium members only.
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