FTSE Short Term Elliott Wave Update 12.3.2015

Short term reading of the Elliott Wave cycle suggests the rally from  wave (4) low at 6079.8 is unfolding in a double three structure where wave W ended at 6366.8, wave X ended at 6221.04, and wave Y is in progress. Internal of wave Y is unfolding also in a double three where wave ((w)) ended at 6395.3, wave ((x)) ended at 6329.9, and pair has resumed higher. As far as wave ((x)) pivot at 6328.34 stays intact, the Index is expected to resume higher in wave ((y)) of Y towards 6506 – 6574.5.

$UKX-FTSE 6020151202230135

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