Medium-term, the instrument is in an uptrend 📈. The current market strength on a scale from zero to one hundred is 45.6. It is recommended to trade with buying positions 🔼.
However, locally the instrument is trading below the last ascending channel, which suggests a possible trend towards decline. Currently, the upper channel boundary is at level 1875.88 and the lower boundary is at level 1736.13. Below this level, speculative sales are possible. 🔽
If the instrument returns to the channel and consolidates within it, the probability of a successful short position will sharply decrease, and it is recommended to trade only with buying positions. 🔼
A breakthrough of the upper channel boundary will indicate an acceleration of the current uptrend. A reversal of the medium-term trend downwards is possible with a drop and consolidation below the level of 1677.48.