kunsan

kunsan Updated 

The current rise looks like it has the potential to become three waves that might be the start of a rising wedge. C=A in the 7170 area. Of course it can also go straight to the 7280 target, but that looks less likely.

kunsan Updated 

I'm confused about the rise from 2084 as it didn't reach logical upside targets. This chart is just one possible explanation.

kunsan Updated 

From the low at 6676 FTSE appears to be trying to complete an abc rally to a new high where c=1.618*a at 7200

kunsan Updated 

At 7280 FTSE will be at 1.618*W1 which is very likely the target for wave 3. Notice the Wiv low at almost exactly 38.2. The recent action appears to be a three and might be the first part of a rising wedge, or the middle part of a flat. It can also be the 5th wave of course if W4 ended at 'b'.