Current price: 39379
Key point: 39225
Our preferred direction: Buy positions above 39225 with 39600 as the first target and then 39800 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 39225 level, targeting the 38600 levels.
Technical commentary
The price is holding above the support levels of 39090-39225 moving in a sideways trend since last week’s trading, but the indicator is targeting the preemptive harmonic pattern at 39815 levels.
In case of breaking and closing below the 39090 levels, the index will head towards the 38800 levels.
