The index is currently in an overall uptrend, moving within a corrective downward channel on the hourly timeframe, with some recovery in prices at today’s market open.
🔺 Bullish Scenario :
If bullish momentum continues and price holds above 45,000, the index may target 45,200, and with strong buying pressure, we could see a new high.
🔻 Bearish Scenario (Also Possible):
If the price rejects near 44,980 and breaks below 44,800 with confirmation, the index could head toward 44,600, and with further selling pressure, it may drop to 44,500.
🔺 Bullish Scenario :
If bullish momentum continues and price holds above 45,000, the index may target 45,200, and with strong buying pressure, we could see a new high.
🔻 Bearish Scenario (Also Possible):
If the price rejects near 44,980 and breaks below 44,800 with confirmation, the index could head toward 44,600, and with further selling pressure, it may drop to 44,500.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.