Index looks poised to end the week above key level of 6754, which is rising trend line level + 2007 high.
A nice rebound from weekly 100-MA and weekly 200-MA as showed by multiple candles with long lower wicks followed by a bullish break today would suggest prices are heading towards 7000 levels.
Minor correction cannot be ruled out given the sharp gains in the post Brexit period. However, things won’t get serious unless weekly 5-MA and 10-MA are breached on weekly closing basis.
A nice rebound from weekly 100-MA and weekly 200-MA as showed by multiple candles with long lower wicks followed by a bullish break today would suggest prices are heading towards 7000 levels.
Minor correction cannot be ruled out given the sharp gains in the post Brexit period. However, things won’t get serious unless weekly 5-MA and 10-MA are breached on weekly closing basis.
