The index is in an ascending channel in the hourly chart.
It hit the resistive trendline and has made a double top pattern.
Also, the RSI indicator has signaled topping out by crossing the 70 level mark from above.
Hence, we expect the pair to move to the support trendline for now.
It hit the resistive trendline and has made a double top pattern.
Also, the RSI indicator has signaled topping out by crossing the 70 level mark from above.
Hence, we expect the pair to move to the support trendline for now.