Title: Key Support Levels for Short and Long Positions: Critical

5天前

It seems we have experienced enough upward momentum, and now, with the support level at 66,842, a short position can be considered. However, since this position goes against the main trend, it’s crucial to set a tight stop-loss to manage risk and ensure an early exit with a favorable risk-reward ratio. The next support level for this strategy could be 65,359.8.

On the other hand, if you're planning to open a long position, you might consider entering at 67,898.7, but be cautious with the stop-loss placement. A wider stop-loss would be advisable, possibly below 66,687.4, to allow room for market fluctuations.

4天前

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We're witnessing an upward movement in the market, but the lack of increasing volume is a concerning signal. Typically, a strong rally is supported by rising volume, but that’s not the case here. This suggests the market may be gearing up for a correction rather than continuing its upward trend.

From a technical analysis perspective, I see more indications of a market correction ahead than a sustained bullish breakout. Be cautious, as this could be a false rally without the necessary momentum to maintain upward progress.