The index price surrendered in yesterday's trading to the stability of the additional resistance extending towards 39220, which hindered the intraday upward attempts, and we noticed its infiltration directly towards 39090
We note that the bearish corrective bias will remain in place with repeated stability below the current resistance. We will continue to wait for the price to gather negative momentum and start targeting the corrective stations, which are currently located near 38680 and 38250. As for exceeding the current resistance, the price will enable the price to form new ascending waves. We expect it to attack the resistance of the main ascending channel extending towards 38445. Then let us monitor its behavior due to its importance in determining the general direction of trading for the coming period.
We note that the bearish corrective bias will remain in place with repeated stability below the current resistance. We will continue to wait for the price to gather negative momentum and start targeting the corrective stations, which are currently located near 38680 and 38250. As for exceeding the current resistance, the price will enable the price to form new ascending waves. We expect it to attack the resistance of the main ascending channel extending towards 38445. Then let us monitor its behavior due to its importance in determining the general direction of trading for the coming period.
