hello everyone,The index price continued to form upward waves in yesterday’s trading, taking advantage of the repeated stability above the 23.6% Fibonacci retracement level, centered at 34100, to constitute strong support, and we can notice that it achieved new gains by reaching about 34472 .
The price may currently be forced to provide some sideways fluctuation due to the attempt of the Stochastic indicator to break out of the overbought level. We will remain waiting for the price to succeed in gaining additional positive momentum, and then to resume the upward momentum with the aim of soon reaching towards 34776 , and by exceeding it, the intermediate trading may extend towards 34985 , to constitute the next main target for bullish trading.
Pivot Price: 34100
Resistance prices: 34472 & 34776 & 34985
Support prices: 33876 & 33640 & 33395
The general trend expected for today: bullish
The price may currently be forced to provide some sideways fluctuation due to the attempt of the Stochastic indicator to break out of the overbought level. We will remain waiting for the price to succeed in gaining additional positive momentum, and then to resume the upward momentum with the aim of soon reaching towards 34776 , and by exceeding it, the intermediate trading may extend towards 34985 , to constitute the next main target for bullish trading.
Pivot Price: 34100
Resistance prices: 34472 & 34776 & 34985
Support prices: 33876 & 33640 & 33395
The general trend expected for today: bullish
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