Hello everyone, The index price took advantage of its stability within the axes of the ascending sub-channel to form a new upward wave by reaching the stable target at 35360 and then fluctuating near it. We would like to note that the attempt to exit the Stochastic indicator from the overbought level may force the price to provide some sideways fluctuation, except that the stability of the additional support is represented by the 35100 level. It is an essential factor to confirm positive continuity for the near and medium period.
From the above, we will maintain our bullish bias and point out that the price’s success in gathering additional momentum will facilitate the task of reaching the next main target centered at 35490, and we stress the importance of monitoring its behavior after achieving this goal.
Resistance prices: 35360 & 35490 & 35699
Support prices: 34870 & 34588 & 34265
The general trend expected for today is bullish
From the above, we will maintain our bullish bias and point out that the price’s success in gathering additional momentum will facilitate the task of reaching the next main target centered at 35490, and we stress the importance of monitoring its behavior after achieving this goal.
Resistance prices: 35360 & 35490 & 35699
Support prices: 34870 & 34588 & 34265
The general trend expected for today is bullish
