Since my last email two weeks ago we have made further gains on the FTSE 100.
I expected the FTSE 100 to trade within a triangle, the break above 7384.8 on Tuesday changed the pattern to an upward zigzag [(a),(b),(c)] as explained in yesterday reports:
So we started to go short again as the next move was a decline to the support line, as I write the FTSE 100 is nearly there. We added +88 pts profit, taking the total to +382 pts in a month.
Longer term I am not sure the FTSE 100 can go to 7100, there is an alternate wave count and I will change my forecast early next week if I believe downside is limited.
I wish you all a happy Easter.
Subscribe to the FTSE intraday and you will receive daily FTSE 100 forecast reports, trading signals on the FTSE 100 (intraday and short term) and access to my private blog where I post more reports on EUR/USD, S&P 500 and gold and trading signals on options.
Subscribe now and get the first month for half price: