After retracing to perfect Fib 38.20% and formed major support
level at 1813-1814, the index resumed its bullish momentum and
produced long bullish candlesticks.
Going by its impulsive move in it is expected the price action will
pause and retraced towards its nearest highlighted support level
for cooling down.
The price index is facing major resistance level in its way to continue
its bullish movement.
The strength of the resistance level can be gauged from the fact that
after its last encounter the price was repelled from 1961 to 1805.
level at 1813-1814, the index resumed its bullish momentum and
produced long bullish candlesticks.
Going by its impulsive move in it is expected the price action will
pause and retraced towards its nearest highlighted support level
for cooling down.
The price index is facing major resistance level in its way to continue
its bullish movement.
The strength of the resistance level can be gauged from the fact that
after its last encounter the price was repelled from 1961 to 1805.