Current price: 38112
Key point: 37880
Our preferred direction: Buy positions above 37880 levels with 38480 as a first target and then 38600 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 37880 level, targeting the 37700 levels.
Technical commentary
The index reached the support levels 37765-37880, which are consistent with the harmonic pattern, and rose from them, so it is expected to rise again to the levels 38470-38600.
However, in the event of a breakout and stability below the mentioned support levels, the index will fall to levels of 37450.
