• 723 days Will The ECB Continue To Hike Rates?
  • 724 days Forbes: Aramco Remains Largest Company In The Middle East
  • 725 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,125 days Could Crypto Overtake Traditional Investment?
  • 1,130 days Americans Still Quitting Jobs At Record Pace
  • 1,132 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,135 days Is The Dollar Too Strong?
  • 1,135 days Big Tech Disappoints Investors on Earnings Calls
  • 1,136 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,138 days China Is Quietly Trying To Distance Itself From Russia
  • 1,138 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,142 days Crypto Investors Won Big In 2021
  • 1,142 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,143 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,145 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,146 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,149 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,150 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,150 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,152 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Elliottwave-Forecast

Elliottwave-Forecast

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…

Contact Author

  1. Home
  2. Markets
  3. Other

FTSE Short Term Elliott Wave Analysis: Another Leg Lower Before Turning Higher

Best reading of Elliott Wave cycles suggests rally to 7129.8 ended wave W. The Index is currently in wave X pullback as a double three where wave (w) ended at 6930 and wave (x) ended at 7067.34. While bounces stay below 7067.34, and more importantly below 7129.8, expect more downside in wave ((y)) of X towards 6820.26 – 6867.46 area before Index turns higher. We don't like selling the proposed pullback and expect buyers to appear in the area above for at least a 3 waves bounce as far as pivot at 9/15 low (6640.5) remains intact in the first degree.

FTSE Short-Term Elliott Wave Analysis Chart
Larger Image

 


At Elliottwave-Forecast, we offer 24 hour coverage of 52 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 we have to offer.

 

Back to homepage

Leave a comment

Leave a comment