$FTSE Short-term Elliott Wave Analysis 7.15.2016

Short term Elliottwave structure suggests rally from 7/6 low is unfolding as a double three where wave (w) ended at 6703.09 and wave (x) pullback is in progress towards 6587.2 – 6609.45 area before turning higher one more leg towards 6810.46 – 6845.1 area to complete wave (W) and end cycle from 2/11 low.

Index has reached the minimum swing number and extension target to complete cycle from 2/11 low, but as far as short term pullback stays above wave ((x)) low at 6435.56, Index still has scope to extend higher to the above mentioned area of 6810.46 – 6845.1. Afterwards, expect to see the Index do a larger correction in 3, 7, or 11 swing to correct the cycle from 2/11 low.

$UKX-FTSE 6020160714215943

At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer


Subscribe to our Chart Of The Day Blog

First Name: *
Last Name: *
Your Email Address: *