Major Resistance - 100
The index has once again jumped after making a low of 99.37. Short term trend is slightly bullish as long as support 98.86 holds.
On the higher side, near term resistance is around 99.92 (23.6% retracement of 101.34 and 99.48) and any break above will take the index till 100.59 (61.8% retracement of 101.34 and 99.37)/101.34 (Apr 10th 2017 high).
The near term major support is around 99.25 and any break below will drag the index down till 98.85.Major trend reversal only below 98.85. Break below targets 98.
It is good to buy above 100 with SL around 99.65 for the TP of 100.59/101.34
The index has once again jumped after making a low of 99.37. Short term trend is slightly bullish as long as support 98.86 holds.
On the higher side, near term resistance is around 99.92 (23.6% retracement of 101.34 and 99.48) and any break above will take the index till 100.59 (61.8% retracement of 101.34 and 99.37)/101.34 (Apr 10th 2017 high).
The near term major support is around 99.25 and any break below will drag the index down till 98.85.Major trend reversal only below 98.85. Break below targets 98.
It is good to buy above 100 with SL around 99.65 for the TP of 100.59/101.34