The price of the index continued to resist the negative pressure to confirm its hold on the uptrend and to start consolidating a new positive momentum as Stochastic approaches the 80 level, we expect the price to surpass the previous high of 22388 targeting 22535 and resistance to the ascending channel extending around 22650.
We note the importance of price stability above the initial support at 22225, thus reducing the possibility of forming a bearish correction trend targeting 22035 to support the ascending channel at 21970 for today.
Trading range is expected between 22280 and 22535
The general trend for today is bullish.
thanks for sharing nice analysis
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