Emerging Channel Down pattern in its final wave was identified on the FTSE 100 4 hour chart. After a strong bearish run, we find FTSE 100 heading towards the upper triangle line with a possible resistance at 9080.9477. If the support shows to hold, the Channel Down pattern suggests a rebound back towards current levels.
FTSE 100 is quickly approaching the support line of a Channel Down. We expect either a breakout through this line or a rebound.
