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FTSE outlook turns bullish after five-wave advance from March 2026 low
The technical view centers on a key pivot at 10,132, which must hold for the bullish path to remain favored.
Action Forex described a short-term Elliott Wave outlook for the FTSE that remains bullish following a sustained advance since the March 23, 2026 low.
The analysis says the index’s move unfolded as a five-swing motive sequence, starting with wave ((i)) at 10,687.88 and pulling back in wave ((ii)), which ended at 10,132.
It then resumed higher in wave ((iii)) to 10,747.01, followed by a consolidation in wave ((iv)) that completed as a triangle at 10,447.55, a structure the outlet says often precedes the final push.
The outlook expects the index to be advancing in wave ((v)) with additional highs possible before a corrective phase begins, and it flags 10,132 as the near-term pivot level that should support the bullish view if it holds.
Latest closeFTSE 100 10,721.67 ▲0.1%