The index price did not move anything until this morning’s trading due to the conflict of the negativity of the Stochastic indicator in the face of general stability within the upward path. We note that it presents a sideways fluctuation near 16060.
We expect the price to resume sideways fluctuation until it gathers additional positive momentum to enable it to reach the resistance extending towards 16224, which exceeding it will open the door to recording additional gains that may start from 16404 and reach towards 16568 in medium-term trading.
Resistance prices: 16224 & 16404 & 16568
Support prices: 15781 & 15658 & 15551
The general trend expected for today is bullish
We expect the price to resume sideways fluctuation until it gathers additional positive momentum to enable it to reach the resistance extending towards 16224, which exceeding it will open the door to recording additional gains that may start from 16404 and reach towards 16568 in medium-term trading.
Resistance prices: 16224 & 16404 & 16568
Support prices: 15781 & 15658 & 15551
The general trend expected for today is bullish
