-If the index breaks above the 38.2% Fibonacci at 3277,
-The next key resistance could arrive at the 50% Fibonacci at 3310.
-Further up, the 61.8% Fibonacci at 3344 is another important level to beat as this would open the way for the 50-day MA, currently around 3365.
- Climbing above the 50-day MA would help shift the near-term bias to a bullish one.
+However, failure to overcome the 38.2% Fibonacci would put the focus back to the downside, while immediate support is at 3235 then 3167
+
-The next key resistance could arrive at the 50% Fibonacci at 3310.
-Further up, the 61.8% Fibonacci at 3344 is another important level to beat as this would open the way for the 50-day MA, currently around 3365.
- Climbing above the 50-day MA would help shift the near-term bias to a bullish one.
+However, failure to overcome the 38.2% Fibonacci would put the focus back to the downside, while immediate support is at 3235 then 3167
+