FTSE Target hit. Can it go even higher?
FTSE100 (UK100) hit today our 8150 Target, which we set a month ago (March 20, see chart below):
Since last week the 1W candle closed (much) higher than the February 2023 Resistance, we see the pattern continuing its strong resemblance with the October 2022 - February 2023 Bullish Leg. The long-term pattern continues to be a Channel Up and its previous Bullish Leg topped just below the 1.382 Fibonacci extension, making its technical Higher High.
As a result, our Target is 8350 (just below the new 1.382 Fib extension). Note that if that Fib level breaks, we may even see accelerated growth as high as to complete +20% from the bottom.
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Since last week the 1W candle closed (much) higher than the February 2023 Resistance, we see the pattern continuing its strong resemblance with the October 2022 - February 2023 Bullish Leg. The long-term pattern continues to be a Channel Up and its previous Bullish Leg topped just below the 1.382 Fibonacci extension, making its technical Higher High.
As a result, our Target is 8350 (just below the new 1.382 Fib extension). Note that if that Fib level breaks, we may even see accelerated growth as high as to complete +20% from the bottom.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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