The index price took advantage of the stochastic rally above 50 to gain new positive momentum, thus forming some bullish waves and settling near 33215, to confirm the price’s attempt to restore the bullish bias, as this initially requires jumping above the moving average 55, which is stable at 33406, and if it holds above this obstacle, it will succeed in reaching Towards the level of 33587, which in turn formed a strong barrier against the recent bullish attempts.
From the above, we recommend observing the price's behavior and waiting for it to achieve the required breach in order to avoid any losses that may result from postponing the bullish attempts to provide an opportunity for the price to fall again towards 32905 before recording any new positive target.
The expected trading range is between 33050 and 33510
The expected general tendency for today: bullish by fulfilling the condition
From the above, we recommend observing the price's behavior and waiting for it to achieve the required breach in order to avoid any losses that may result from postponing the bullish attempts to provide an opportunity for the price to fall again towards 32905 before recording any new positive target.
The expected trading range is between 33050 and 33510
The expected general tendency for today: bullish by fulfilling the condition
