UK 100 Near a Sell Point -04/19/23

The 04/02/23 blog “Britannia Rules the Elliott Waves” noted that if the UK 100 (UKX) exceeded a  .618 retracement of the 02/16/23 to 03/20/23 decline – the next resistance was at 7,850 to 7,975.

The 3-hour UKX chart courtesy of Trading View updates the action.

The UKX has reached the resistance zone and a small rally could complete the Minor wave “2” formation.

The 15-minute UKX – Point & Figure chart gives greater clarity to the potential resistance zone.

The greater the number of columns, the greater the potential support/ resistance.  14 – columns represent powerful resistance.

The UKX could complete the pattern on 04/20/23.  If a top is made, the next decline could last for several weeks – perhaps months.


Published by Mark Rivest

Independent investment advisor, trader, and writer. Articles have appeared on Technical Analysis of Stocks and Commodities , Advantage,, and Finance Magnates.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: