$FTSE Short-term Elliott Wave Analysis 7.14.2016

Short term Elliottwave structure suggests rally from 7/8 low is unfolding as a triple three where wave (w) ended at 6579.25, wave (x) ended at 6515.24, wave (y) ended at 6698.54, and 2nd wave (x) ended at 6654.26. While pullback stays above 6654.26, Index is expected to extend 1 more leg higher towards 6810.46 – 6845.10 area before ending the cycle from 2/11 low and see a larger 3 waves correction to correct the cycle from 2/11 low.

$UKX-FTSE 6020160713222711

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