FTSE - 1Hr Chart fürTVC:UKX von Geofftv1

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In my view FTSE completed the Supercycle Top at around 7800. FTSE has now smashed downwards through the major support line and
rebounded to hit strong resistance back at that major support line. If correct we are in wave 4 of the first 5 wave down which may complete at around 7100.
Good Luck

Kommentar: FTSE completed intermediate wave (1) at 7075 and should now bounce in wave(2) to at least 7348 38%fib. Good Luck

Hi Geofftv 1My counts are identical! -At 9:30 UTC a truncated5 seems to be realistic! As "Extension1"? Good luck

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wolfah

@wolfah, Thanks, looks like we both think alike.

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Geofftv1

@Geofftv1, Yes. DAX looks similar...;-)

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Watch out for a possible truncated 5th.

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kunsan

@kunsan, Agreed.

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Supercycle?

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Ta-Trade

@Ta-Trade, Yes, using the EW convention that a Supercycle lasts several decades.

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Geofftv1

@Geofftv1, Whats your take on gold Geoff?

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Ta-Trade

@Ta-Trade, will take a look.

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Ta-Trade

@Ta-Trade, Short term due a bounce, longer term going down further perhaps to 1240ish.

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