FTSE 100 is heading towards the resistance line of a Rising Wedge and could reach this point within the next 3 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
A Rising Wedge has formed, FTSE 100 is approaching support. Can we expect a breakout and the start of a new trend or a reversal?
