Monthly: the index is rising against low ADX. Thus, resistance can be around the upper Bollinger band (2176.2) and a downward rebound towards the middle line (2049.8) is possible.
Weekly: resistance is at 2161.8-2176.2. Here ADX is attacking, so a breakout to new highs is equally probable.
The daily chart: aggressive ADX can be related to both bearish and bullish forces, so our tactics will be search for signals in both directions - support 2099.4 and resistance 2176.2
The main scenario - a drop from around 2176.2 to 2099.4
The alternative scenario - a breakthrough to new Highs (above 2176.2). Goals are vague.
Solutions: wait for downward signals around 2176.2 and upward signals around 2099.4
Monthly: the price continues to decline towards the bottom Bollinger band (29.11). It is unclear if bears can reach the goal, because the movement has no trend component.
Weekly: the price is clamped within the upper envelope (44.96-55.66).
The daily chart: the two local resistance lines, where a massive supply for sale can be found - it's levels of 49.01 (the middle Bollinger band) and 52.50 (upper band).
The main scenario - touch of 49.01 followed by a beginning of decline to 45.67 and 42.73
The alternative scenario - the higher correction to 52.50 and then another drop.
Solutions: if there are short signals around 49.02, we should sell to 45.67 and 42.73
Monthly: ADX is still aggressive in favor of bulls, so - no sales. The question is "where to buy?". Let us look for an answer.
Weekly: also an active trend ADX, therefore we don't know if bears are able to finalize correction at least at the middle Bollinger band (1265.70). But this is exactly the point, where the best possible upward entry point is based. So, we should wait.
The daily chart:Here we see that support 1320.69 is very active, so perhaps bulls will have to start from current levels. Resistance is at 1387.66 (the upper Bollinger band), from where a downward rebound can happen, as local ADX is weak
Expectations: growth from current levels to 1387.66
Solutions: sales to 1387.66
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us