Weekly chart:
The blue chip index is slowly beginning to show strength again. As you can see in the following chart, the green correction zone has been defended more than just once, which hints at the significance of this zone. The way up to the top could now be free once more.
Daily chart:
The situation is also slowly becoming clearer in the daily chart. If today ends positively and with a closing price above the last point two at 16426 points, this is equivalent to a continuation of the trend, and with this we would have a valid trend again. However, for an entry it is still a little too early.
Hourly chart:
The hourly chart has been in an uptrend for quite a while now. Currently we can see another trend continuation with a correction zone between 16572 and 16500 points. As long as the price does not exit this zone downwards, the trend will remain intact and an entry could be worth it.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Head of Sales/Trading
AgenaTrader/TradeEscort
AgenaTrader Trading Software
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