The index has been bearish for 3 straight weeks. However, it is now at an important key level of support and has two bullish confluences present. I would ideally like to get a bullish engulfing candle as my last one or a reversal candle to add as confirmation. It is worth noting that the price is also likely to test the 77% Fib level as part of a liquidity grab movement before going up again.
Trade closed: target reached