The index is currently trading in a general uptrend, while showing a consolidation phase on the hourly timeframe, testing a support zone near 44,780.
🔼 Bullish Scenario:
If bullish momentum builds and price breaks above 45,000 with confirmation, the index may head toward 45,200, and with continued buying pressure, new highs could be seen.
🔻 Bearish Scenario (Most Likely):
If the price breaks below 44,750 and holds beneath it, the index could move down to test 44,600, and with further selling pressure, a drop toward 44,500 is possible.
🔼 Bullish Scenario:
If bullish momentum builds and price breaks above 45,000 with confirmation, the index may head toward 45,200, and with continued buying pressure, new highs could be seen.
🔻 Bearish Scenario (Most Likely):
If the price breaks below 44,750 and holds beneath it, the index could move down to test 44,600, and with further selling pressure, a drop toward 44,500 is possible.
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.