FTSE Elliott Wave Analysis: Pinpointing the Next Index Move

The FTSE Index has formed an Elliott Wave Zig Zag correction from the 10989.94 peak. This analysis examines the current structure and identifies potential paths ahead.

FTSE remains within the cycle from the 10989.94 peak, having made a new short-term low. This incomplete swing structure offers clues for assessing the market’s next move.

The Elliott Wave view suggests further short-term weakness before a rally develops, with the target measured using Fibonacci Extension.

The pullback is taking the form of an Elliott Wave Zig Zag pattern. By measuring the ((a))-((b)) Equal Legs zone with Fibonacci Extension, we identify a potential reversal and buying area.

The Equal Legs area is at 10615.92–10543.60. If the index reaches this zone, buyers are expected to step in, potentially starting a three-wave bounce.

FTSE Elliott Wave 1-Hour Chart – 09.15.2026

FTSE made the expected decline and reached the extreme zone. As a Zig Zag is a 5-3-5 structure, the (c) leg should ideally have five waves. So far, three waves are counted within (c), indicating one more wave is needed to complete the structure. The current view suggests FTSE may make one more marginal push lower before the next rally.

FTSE Elliott Wave 1-Hour Chart – 09.18.2026

FTSE completed the proposed wave down with five waves within the (c) leg. Buyers appeared at the buying zone 10615.92–10543.60 as expected, generating a decent rally.

Source link