Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The index recorded notable gains in the previous session, reaching a high of 46,787.
Technical Outlook:
- 50-period Simple Moving Average (SMA): Continues to support the price from below, reinforcing the broader bullish structure.
- Relative Strength Index (RSI): Entering overbought territory and beginning to send negative signals, indicating short-term momentum may be fading.
Probable Scenario:
- Bearish Case: Stability below 46,670 may put the index under immediate pressure. A clear break of 46,500 could extend the decline, opening the way for a test of 46,430.
- Bullish Case: A confirmed consolidation above 46,670 could restore upward momentum, targeting 46,950.
Note: Markets await high-impact US economic data today (Job Openings and Labor Turnover), which may trigger elevated volatility.
Risk Warning: Risk is elevated and may not be proportional to potential reward amid ongoing trade and geopolitical tensions. All scenarios remain 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: 46430 | R1: 46770 |
| S2: 46265 | R2: 46950 |
| S3: 46085 | R3: 47115 |
