$FTSE Short-term Elliott Wave Analysis 7.13.2016

Short term Elliottwave structure suggests Index ended wave X at 5788.7. Rally from there is unfolding as a triple three where wave ((w)) ended at 6229.18, wave ((x)) ended at 5958.66, wave ((y)) ended at 6612.13, and 2nd wave ((x)) ended at 6472.25. Near term, while 2nd wave (x) pullback stays above 6431.69, Index has scope to extend higher 1 more leg 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 6020160712215040

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