We see a fine recovery after the attempt to sink. This makes hope for further rise.
We have opened a window yesterday. If this will not be closed soon we will see a rise.
The trend remains down and the last fall since December 27th seems to have retraced now.
..and an increasing momentum let me expect a further drop down.
The previous top shall be re-tested now. But may be that this is not the ceiling yet.
As we are still in a downtrend the recent Fibo retracement may be considered as a selling opportunity.
The uptrend is continuing and any daily correction may be healthy only.
Today we fell below the MA. This decline has been retraced in all timeframes from 1 day down and the way for a further drop seems to be cleared.
Now the index fell below the rising support and the MA in the daily chart as well which allows to re-open the short position.
Within an existing downward trend we fell below the rising support.
The October rise has been retraced, however the thrend remains down so that more drops are likely.
The MA proved to be a good support which held. The sharp decline past week shall be considered to have been a correction in a beginning trend up.
The support has held and another test of the top is running.
After the rise over 2 resistances the way up is the more likely one.
After the breakup over 2 resistances the way up is more likely.
The rise is impressive and the ceiling has not been reached yet.
A better support is hardly to be found. Trendline 2 sliding and 1 falling channels are supporting at this level.