The index is currently trading near the 44,600 level, which is considered a potential reversal zone. The possible scenarios are as follows:
1️⃣ Bullish Scenario:
If bullish momentum continues and the price holds above 44,650, the index may target the 44,900 area.
2️⃣ Bearish Scenario:
If a corrective downward move begins and the price breaks below the nearby support at 44,460 and holds under it, this could push the price toward testing the 44,100 level.
1️⃣ Bullish Scenario:
If bullish momentum continues and the price holds above 44,650, the index may target the 44,900 area.
2️⃣ Bearish Scenario:
If a corrective downward move begins and the price breaks below the nearby support at 44,460 and holds under it, this could push the price toward testing the 44,100 level.
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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.