FTSE Elliott Wave Analysis: More Pullback Before The Rally Resumes

By: Elliottwave-Forecast | Thu, Oct 6, 2016
Print Email

Short term Elliott Wave count suggests that pullback to 6640.3 at 9/15 ended wave (X). The rally from there is unfolding as a double three where wave (w) ended at 6899.5, wave (x) ended at 6728.5, and wave (y) of ((w)) is proposed complete at 7091.5. Near term, while bounces stay below 7091.5, expect the Index to continue lower in wave ((x)) pullback in 3, 7, or 11 swing to correct cycle from 9/15 (6638.5) low before turning higher again, provided that 9/15 pivot at 6638.5 remains intact. We don't like selling the Index in proposed wave ((x)) pull back. If it makes a shallow pull back and extends higher, it can become a triple three structure in the blue cycle up from 6640.3 low.

FTSE Elliott Wave Analysis Chart
Larger Image


At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer.




Author: Elliottwave-Forecast


Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 41 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Copyright © 2015-2017 Elliottwave-Forecast.com

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com