Prices are moving inside an ascending channel, we expect that the index to hit the bottom line near to 22,785 and bounce higher reaching 22,860.
We can notice a rising wedge, prices approaching the upper line at 21,740, and we expect to retreat to 21,650 then 21,600. Exceeding the upper line would send price higher to new record.
We have mentioned about the symmetrical triangle since the beginning of June, and we
The start of the week was calm and didn't witness strong moves, but the US dollar managed to erase some of its losses last week, ahead of US employment data to be released on Friday. This was helped by the positive figures for the manufacturing sector, with the ISM Manufacturing PMI recording its highest reading in two and a half years at 57.8 points.
As we expected in the beginning of this month prices has risen after exceeding resistance of
Prices is still trading higher than the broken symmetrical triangle, staying higher would send it
Currently prices are trying to penetrate the upper line of a symmetrical triangle and if it
Currently prices are trading near to important resistance at 21,000 represents the upper line of
Currently prices testing the trend of broken expanding wedge, and pulled back from it,
The index has fallen sharply breaking the pattern that we have mentioned
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