FTSE 100 bottom formed. Target for Summer 2025 set.

FTSE 100 (UK100) is currently on a strong rebound after a mid-December hit-and-hold on the 1W MA50 (blue trend-line). That was a Double Bottom along with the November 11 2024 1W candle Low. At the same time, this rebound is taking place after a test of the 13-month Higher Lows Zone.

In fact, that Zone started during the previous bottom formation on October 23 2023, shortly after the 1W RSI formed a Higher Lows Bullish Divergence. This time the 1W RSI is on Lower Lows but since the 2024 and 2023 fractals are very similar and the 1W MA50 is holding, we expect the bottom to be already priced in.

As you can see, both previous macro Bullish Legs of FTSE's 2-year Channel Up, targeted the 1.382 Fibonacci extension once the previous High (Resistance Zone) broke. As a result, we are now setting 8650 as a Q2 2025 Target.

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