The index logged sharp losses in the week’s first session, posting a 46,397 low.
Technical outlook
- 50-SMA (4H): Rolling over above price and acting as a descending ceiling (dynamic resistance), reinforcing the daily downtrend.
- RSI: Remains negative despite oversold readings, underscoring strong near-term bearish momentum.
Base case (bearish while below 47,000 / 47,050)
- Staying beneath 47,000 (and more broadly 47,050) keeps the downside favored.
- A decisive break/4H close below 46,395 would likely accelerate losses toward 46,150, with scope to 45,780 thereafter.
Invalidation / recovery path
- Reclaiming and holding above 47,050 would signal a rebound, targeting 47,120, then 47,250.
Risk note
Volatility is elevated and may be disproportionate to potential returns. Use prudent sizing and firm stops; reassess quickly if these levels give way amid trade/geopolitical headlines.
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: 45835 | R1: 46465 |
| S2: 45595 | R2: 46860 |
| S3: 45200 | R3: 47095 |
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