Hello everyone,The index price announced its adherence to the upward path by recently submitting multiple closings near the 4525.00 level, thus attempting to counter the attempt of the Stochastic indicator to exit the overbought level, as is evident in the attached drawing.
We point out that the price is surrounded by several factors that support positive continuity, including the formation of the 4437 level for basic support, in addition to the attempt to form the 4475 level for additional support. Therefore, we will remain waiting for the price to succeed in gaining additional positive momentum to enable it to reach the next main target stable near 4555 , and then let us wait for the next close. So that we can determine the expected direction of upcoming trading.
Pivot Price: 4525
Resistance prices: 4555 & 4579 & 4605
Support prices: 4492 & 4475 & 4437
The general trend expected for today: bullish
We point out that the price is surrounded by several factors that support positive continuity, including the formation of the 4437 level for basic support, in addition to the attempt to form the 4475 level for additional support. Therefore, we will remain waiting for the price to succeed in gaining additional positive momentum to enable it to reach the next main target stable near 4555 , and then let us wait for the next close. So that we can determine the expected direction of upcoming trading.
Pivot Price: 4525
Resistance prices: 4555 & 4579 & 4605
Support prices: 4492 & 4475 & 4437
The general trend expected for today: bullish
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