Target: 23000
Risk: 24200
Technical reasons:
The index’s rise stop below 25000 barrier pushed trades to decline and break the important support 24200, to head towards 23000 barrier that forms the next negative target.
The exponential moving averages 50 and 100 form strong negative pressure that pushes for more expected decline on the short term and medium term basis, and the targets extend to 22400, while surpassing 24200 will stop the current negative pressure and push the price index to recover again.
Risk: 24200
Technical reasons:
The index’s rise stop below 25000 barrier pushed trades to decline and break the important support 24200, to head towards 23000 barrier that forms the next negative target.
The exponential moving averages 50 and 100 form strong negative pressure that pushes for more expected decline on the short term and medium term basis, and the targets extend to 22400, while surpassing 24200 will stop the current negative pressure and push the price index to recover again.