UK100 index has demonstrated a substantial ascent, exhibiting a remarkable 6.5% increase from its October lows to the conclusion of the calendar year. This surge followed the emergence of a bullish divergence, further fortifying the positive sentiment surrounding the index. Notably, the recent breach of the wedge pattern suggests a potential continuation of this upward trajectory.Anticipating a retest of the 7650 level, I posit that the index is poised to sustain its positive momentum, buoyed by the prevailing bullish forces in the
US500 US equities market. This projection is underpinned by the conviction that the ongoing momentum in US equities will exert a continued uplifting effect on the UK100 index, thereby contributing to further gains.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.