Footsie is trading in fifth wave
|We have been talking for a long time about bullish UK stock market index FTSE100 a.k.a. Footsie. We also shared the chart with our members more than a year ago, where we were tracking wave 4 correction within an ongoing five-wave bullish impulse.
FTSE 100 weekly chart from November 2022
After a longer sideways consolidation, it turned out to be a bullish triangle pattern in wave 4, but as you can see, it’s now finally and nicely extending higher for wave 5 as expected. There can be space even up to 8800 – 9400 target area, just watch out on short-term pullbacks.
FTSE 100 weekly chart from May 2024
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