The index continues to trade inside a well-defined rising channel. After setting a new ATH at point B, price retraced into a double bottom at C near the 654 support zone — aligning with the 0.328 retracement/last week's low. The rebound from that level keeps the bullish structure intact.
⚡ Key Levels to Watch:
Support: 654 (double bottom / fib confluence)
Resistance: 667–670 (prior high & channel midline)
Upside target: 685-690 (channel top / point D projection)
As long as 654 holds, the path of least resistance favors a move toward 690. A decisive break below 654, however, would signal weakness and open the door to deeper downside.
⚡ Key Levels to Watch:
Support: 654 (double bottom / fib confluence)
Resistance: 667–670 (prior high & channel midline)
Upside target: 685-690 (channel top / point D projection)
As long as 654 holds, the path of least resistance favors a move toward 690. A decisive break below 654, however, would signal weakness and open the door to deeper downside.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.