The Swiss Market Index broke past the 9,600 1M Resistance in April. This level has been rejecting any upside movements since 2007. This is a cyclical mega long term development as a new bull market is emerging. Since it has been trading within a long term Channel Up (RSI = 59.500, MACD = 210.200, Highs/Lows = 364.7764) with recurring bullish leg, we have no reason...
The Swiss market index is now again testing a the major multi-year resistance around ~9 500 which in the past has produced multiple strong rejections.
Potential Short-term/Intermediate-term bearish plays from this resistance. Lower timeframe for possible entry.
Long SMI. Trend continuation. 200MA acts as support, supported by 100MA heading up. On daily TF RSI oversold with divergence COPPOCK confirmes it. Coppock above 0 line on Daily Bullish momentum price above 20MA. Looking for retest of structure usually SMI lags behind EU indices or FIB extension to reach new highs. GOOD LUCK