FTSE 100 is heading towards the resistance line of a Rising Wedge and could reach this point within the next 6 hours. 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.
FTSE 100 is quickly approaching the resistance line of a Rising Wedge. We expect either a breakout through this line or a rebound.
