FTSE 100 (UK) Elliott Wave Analysis - Day Chart
FTSE 100 (UK) Day Chart Analysis
FTSE 100 (UK) Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Orange Wave 5
Position: Navy Blue Wave 3
Direction Next Lower Degrees: Navy Blue Wave 4
Details: Orange Wave 4 appears complete. Currently, Orange Wave 5 of Navy Blue Wave 3 is in progress. Wave Cancel Invalid Level: 7,920.18
The FTSE 100 day chart, analyzed using Elliott Wave theory, indicates the market is in a trending mode with an impulsive wave structure. The focus is on Orange Wave 5, which suggests a strong upward momentum within this wave. This wave is part of the broader Navy Blue Wave 3, reflecting the ongoing bullish trend in this larger wave sequence.
At this point, Orange Wave 4—typically a corrective phase—seems to have completed. The analysis now suggests that Orange Wave 5 has commenced, continuing the upward movement as part of Navy Blue Wave 3. This implies potential further price increases as the impulsive nature of Wave 5 drives the market higher.
The next lower degree wave to watch is Navy Blue Wave 4, expected to follow the completion of Orange Wave 5. Navy Blue Wave 4 typically introduces a corrective phase before the market resumes its upward trend in the subsequent wave.
The Wave Cancel Invalid Level is set at 7,920.18. If the market falls below this level, the current wave count would be invalidated, indicating a possible change in the wave structure or trend direction.
In summary, the FTSE 100 day chart is in a strong upward trend within Orange Wave 5 of Navy Blue Wave 3. With Orange Wave 4 completed, the market is anticipated to continue rising in Orange Wave 5. The critical invalidation level is 7,920.18, which is essential for confirming the continuation of the current wave analysis.
FTSE 100 (UK) Elliott Wave Analysis - Trading Lounge Weekly Chart
FTSE 100 (UK) Weekly Chart Analysis
FTSE 100 (UK) Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Orange Wave 5
Position: Navy Blue Wave 3
Direction Next Lower Degrees: Navy Blue Wave 4
Details: Orange Wave 4 appears complete. Currently, Orange Wave 5 of Navy Blue Wave 3 is in progress. Wave Cancel Invalid Level: 7,920.18
The FTSE 100 weekly chart, analyzed using Elliott Wave theory, displays a strong upward trend characterized by an impulsive wave structure. The focus is on Orange Wave 5, indicating continued bullish momentum within this phase. This wave is part of the broader Navy Blue Wave 3, suggesting sustained upward movement.
Orange Wave 4—a typical corrective phase—seems to have completed. Following this, Orange Wave 5 has begun, signaling that the market continues its upward trajectory as part of Navy Blue Wave 3. This ongoing bullish trend is expected to propel the market higher as Orange Wave 5 progresses.
The next wave to monitor in the lower degree is Navy Blue Wave 4, likely to occur after Orange Wave 5 concludes. Navy Blue Wave 4 is generally a corrective wave, which means the market might experience a temporary pullback or consolidation phase before resuming its overall upward trend.
A critical aspect of this analysis is the wave cancel invalid level set at 7,920.18. This level is crucial because if the market drops below it, the current Elliott Wave count would be invalidated. Such a scenario could suggest a potential change in the wave structure or a shift in the market's overall trend direction.
In summary, the FTSE 100 weekly chart is in a strong uptrend, currently within Orange Wave 5 of Navy Blue Wave 3. With Orange Wave 4 completed, the market is expected to continue rising as Orange Wave 5 progresses. The key level to monitor is 7,920.18, which serves as the invalidation point for the current wave analysis.
Technical Analyst: Malik Awais
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