The index managed to end the previous day above 6950, thus keeping the doors open for a rebound to 7K as seen multiple times earlier this month. Moreover, bullish invalidation is seen only after the index breaches the key support of 6950 on a daily closing basis.
Traders should watch out for a rebound from 6950 followed by a daily close above 7000 as such a move would signal a possible move to fresh record highs in the short-term.
Traders should watch out for a rebound from 6950 followed by a daily close above 7000 as such a move would signal a possible move to fresh record highs in the short-term.
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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.