hello everyone,The index price gave a negative signal after testing the stable resistance at 34296 . We noticed that it sneaked below the moving average of 55, incurring clear losses by touching the level of approximately 33915.
We point out that the stability of the previously mentioned resistance will confirm the beginning of the effect of the downward path in the upcoming trading. We expect the price to gain additional negative momentum, starting to target new negative stations, with the 33701 level forming the first station of the downward path, reaching towards 33407, to constitute the main target for the current period’s trading.
Pivot Price: 33989
Resistance prices: 34296 & 34526 & 34776
Support prices: 33701 & 33407 & 33049
The general trend expected for today: bearish
timeframe: 4H
We point out that the stability of the previously mentioned resistance will confirm the beginning of the effect of the downward path in the upcoming trading. We expect the price to gain additional negative momentum, starting to target new negative stations, with the 33701 level forming the first station of the downward path, reaching towards 33407, to constitute the main target for the current period’s trading.
Pivot Price: 33989
Resistance prices: 34296 & 34526 & 34776
Support prices: 33701 & 33407 & 33049
The general trend expected for today: bearish
timeframe: 4H
