Current price: 38715
Key point: 38460
Our preferred direction: Buy positions above 38460 levels with 39225 as a first target and then 120 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 38460 level, targeting the 38030 levels.
Technical commentary
The index fell on the four-hour frame to reach the 200 moving average near the lower limit of the ascending channel, making it likely to retest the resistance levels 39225-39295.
If the indicator breaks and closes below the lower limit of the channel, the price will head to the next support levels at 38030.
