- FTSE 100 Index bounces off support level at 8140.00
- A rise to the resistance at 8,300.00 is likely
The FTSE 100 Index has recently reversed course upwards from the key support level of 8140.00 (where the previous Correction A at the end of May was also halted).
The support level at 8140.00 was further strengthened by the lower daily Bollinger band and the 50% Fibonacci correction of the upward impulse from April.
Given the clear daily uptrend, the FTSE 100 Index is expected to rise further towards the next resistance level of 8300.00, where it has been reversing since May.
