Yesterday, the index price formed a new downward wave affected by the negativity of the Stochastic indicator, which is currently positioned within the oversold level, thus threatening the main ascending channel support positioned at approximately 14800.00.
We recommend monitoring the price's behavior and waiting for the next close, given that the price has an opportunity to break the current support due to its continued exposure to negative pressures, thereby confirming its move to the negative path. We expect it to incur major losses that may start from 14640 and reach about 14457 in medium-term trading.
Pivot Price: 14800
Resistance prices: 14884 & 14982 & 15102
Support prices: 14640 & 14540 & 14457
The general trend expected for today: is bearish with the breakout achieved
timeframe:4H
We recommend monitoring the price's behavior and waiting for the next close, given that the price has an opportunity to break the current support due to its continued exposure to negative pressures, thereby confirming its move to the negative path. We expect it to incur major losses that may start from 14640 and reach about 14457 in medium-term trading.
Pivot Price: 14800
Resistance prices: 14884 & 14982 & 15102
Support prices: 14640 & 14540 & 14457
The general trend expected for today: is bearish with the breakout achieved
timeframe:4H
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