5-Swing Elliott Wave Sequence in FTSE Supports Bullish Bias
The ongoing rally in the FTSE Index, originating from the April 7, 2025 low, continues to unfold as a five-wave impulse structure within the Elliott Wave framework. This signals sustained bullish momentum. From the April 7 low, wave 1 peaked at 7984.19. Wave 2 pullback followed which concluded at 7599.56. The index then surged in wave 3, reaching 8902.4. The subsequent wave 4 correction manifested as a double three Elliott Wave structure, as evidenced on the 1-hour chart. From the wave 3 peak, wave (w) declined to 8809.91. It was then followed by a wave (x) recovery to 8858.56. The decline in wave (y) reached 8741.4, completing wave ((w)) in a higher degree. The rally in wave ((x)) peaked at 8831.9 before the index resumed lower in wave ((y)). Within this decline, wave (a) ended at 8757.97. Wave (b) ended at 8792.43, and wave (c) concluded at 8706.91, finalizing wave ((y)) of 4.
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