The index is trading within a Rising Wedge
pattern on the 4H chart ( RSI
= 65.584, MACD
= 10.000, ADX
= 30.906) and has reached the point of exhaustion. With the 4H MA50 supporting, it is more probable to see an upward break-out. In any case trade the direction of whichever break-out takes place first: bullish
TP = 3,407 and 3,429 while bearish
TP = 3,367 and 3,339.50.
** If you like our free content follow our profile to get more daily ideas. **
Comments and likes are greatly appreciated.
** Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. **