FTSE Elliott Wave: Mapping the Path Ahead

A technical analysis report by Elliott Wave Forecast analyzes the price trajectory of the FTSE Index (UK 100) following its peak at the 10,989.94 level. The index underwent a corrective pullback adhering to an Elliott Wave Zig Zag structure (5-3-5 pattern). This corrective sequence indicated that short-term downside pressure would persist until the completion of wave (c). Using the Fibonacci Extension tool, analysts identified the primary reversal and buying target in the ((a))-((b)) Equal Legs zone between 10,615.92 and 10,543.60. As the price fulfilled the expected five-wave decline inside the (c) leg, buyers responded right within this defined extreme support region. The completion of this corrective structure provided a technical foundation for a bullish turn, triggering a solid rebound from the support pocket. The near-term market outlook remains supportive of further upside momentum as the index works through its broader cycle recovery.