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After a downtrend that lasted almost the entire month of September, the index approached the highs around 12000, without however having the necessary strength to reach them.
On the contrary, the MACD gave an important sell indication which was actually confirmed by the start of a new bearish phase.
The breakout of the important support at the FIB 23.6 level should confirm the downtrend to the other levels around 11400 and 11250. This last level remains the best level to re-evaluate market movements.
Only eventual rallies above 11700 could open different scenarios.
After a downtrend that lasted almost the entire month of September, the index approached the highs around 12000, without however having the necessary strength to reach them.
On the contrary, the MACD gave an important sell indication which was actually confirmed by the start of a new bearish phase.
The breakout of the important support at the FIB 23.6 level should confirm the downtrend to the other levels around 11400 and 11250. This last level remains the best level to re-evaluate market movements.
Only eventual rallies above 11700 could open different scenarios.
Trade closed: target reached:
Target 1 reached. Let's wait a good signal to open a new position in the right way.
Trade closed: target reached:
Target 2 reached. Let's wait a good signal to open a new position in the right way.