Hello everyone,Yesterday, the index price was forced to form a downward correctional wave to settle below the 16060 level, to be affected by the exit of the Stochastic indicator from the overbought level, temporarily postponing the previously expected upward rally.
The general stability is within the axes of the main ascending channel shown in the attached figure, in addition to the continued formation of the 15660 level for additional support. These factors call us to wait for the price to accumulate positive momentum during the current period to enable it to resume the upward attack and reach the next main target stable at 16224.
Resistance prices: 16224 & 16404 & 16500
Support prices: 15553 & 15253 & 14983
The general trend expected for today: bullish
The general stability is within the axes of the main ascending channel shown in the attached figure, in addition to the continued formation of the 15660 level for additional support. These factors call us to wait for the price to accumulate positive momentum during the current period to enable it to resume the upward attack and reach the next main target stable at 16224.
Resistance prices: 16224 & 16404 & 16500
Support prices: 15553 & 15253 & 14983
The general trend expected for today: bullish
