The index continued its attempts to preserve recent gains, recording a morning high of 46,608.
Technical Outlook:
- 50-Day Simple Moving Average (SMA): Acting as a support level from below, reinforcing the possibility of continued upward movement.
- Relative Strength Index (RSI): Showing positive signals on short-term timeframes, suggesting potential for further gains.
Probable Scenario:
- Bullish Case: Intraday consolidation above 46,540 could maintain the upward trajectory, targeting 46,635 first, followed by 46,880.
- Bearish Case: A return to trading below 46,540 may expose the index to renewed selling pressure, with downside targets near 46,495.
Warning: The risk level remains high amid ongoing trade and geopolitical tensions, and all scenarios are possible.
Trading in CFDs involves risks, and therefore all scenarios are subject to potential outcomes. The analysis provided above is not a recommendation to buy or sell but rather an illustrative reading of price action on the chart.
S1: 46540 | R1: 46635 |
S2: 46495 | R2: 46680 |
S3: 46455 | R3: 46725 |