The index is faced by several resist-levels:
- 200 & @ 17.750/17.676
-Fibo-retracements 38,2/0,5/61,8 : 17.679/17.7656/17.851
- Breakoutlevel @ 17.635
-old neckline @ 17.775
prices above 17.765 turn the chart again with TP @ mentioned fibos or tradingbox upper edge @ 18.280
prices below this level generate short signals
The weekly is still bullish.
-Prices above the last High will genereate a Longterm Buying Signal with a prospect of new ATH`s.
-The level @ 17.000 (longterm trend chanel) should be a support here.
-Prices below 16.800 will hurt the longterm trend chanel and the risk then will increase that a bigger consolidation could start. Possible targets of this big consolidation are the fibos:
38,2 (minimal correction) 13.737
0,5: 12.341 healthy correction
61,8 maximal correction: 10.946
Prices within the tradingboc (blue) are good for scalping / swingtrading