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FTSE Short-Term Elliott Wave Analysis
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 6221.04 stays intact, the Index is expected to resume higher in wave ((y)) of Y towards 6506 - 6574.5.
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