Index price analysis and forecasts
The index price took advantage of the stability of the support centered at 37710, forming an upward corrective bounce, trying to compensate for some of the losses achieved recently, to now settle near 38150 , trying to get rid of the negativity of the 55 moving average.
Future trading prospects
We expect the price to currently form more upward corrective attempts, targeting the 38250 level.
Crossing the 38250 level opens the door to resuming the upward attack towards 38680 .
Failure of the price to breach this obstacle activates the negative path with an initial target at the 38080 level and possible pressure on the support at 37710.
The index price took advantage of the stability of the support centered at 37710, forming an upward corrective bounce, trying to compensate for some of the losses achieved recently, to now settle near 38150 , trying to get rid of the negativity of the 55 moving average.
Future trading prospects
We expect the price to currently form more upward corrective attempts, targeting the 38250 level.
Crossing the 38250 level opens the door to resuming the upward attack towards 38680 .
Failure of the price to breach this obstacle activates the negative path with an initial target at the 38080 level and possible pressure on the support at 37710.
