Here you go guys, the FTSE through the eyes of an elliottician.Key Points:small degree wave (iv) looks like it may be complete...this means we expect downside to make a new low (bellow fridays low)...this should be short lived and buyers are expected to jump on and rally hard.Resistance level is 5227. This must NOT break BEFORE we get a new low towards 4920-4900...After we get a new low, this is no longer key resistance and I think will be broken as the bulls take the market up.Hope this provides some ideas for you guys, not 100% how it will work out yet...but lets watch and see. :)Happy Trading
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