– FTSE 100 reversed from long-term resistance level 10950.00

– Likely to fall to support level 10750.00

FTSE 100 Index recently reversed from the resistance zone between the long-term resistance level 10950.00 (which stopped the sharp uptrend in February) and the upper daily Bollinger Band.

The downward reversal from this resistance zone stopped the earlier short-term impulse wave c from the start of July.

Given the strength of the resistance level 10950.00 and the overbought daily Stochastic, FTSE 100 Index can be expected to fall further to the next support level 10750.00 (former resistance from April).