The index has closed above the psychological 2,000 level but is still trading between the daily and monthly support trend lines. This is giving a symmetrical triangle appearance to the daily chart but a bit of a Bull Flag look to the weekly. I also note that Friday’s candle closed back above the 200 EMA.
Comment:
The index has closed above the psychological 2,000 level but just below the 2,100 barrier. It is back up near the daily support trend line and so I may have to give up on my hope for a test of 1,600.
