Current price: 15528
Key point: 15415
Our preferred direction: buy positions at the highest levels of 15415, targeting 15828 as the first target, then 15900 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 15415 level, targeting 15300 levels
Technical commentary
The index rose on the daily time frame from pivotal support levels 14559-14700 with the formation of the ALT BAT harmonic pattern with a 113% Fibonacci retracement of the XA leg. It actually rises to the levels of 15312-15416 with its breach and stability above it. In the event of a breach of the descending trend line from the peak of last July, it will be expected that the index will continue its rise to this year’s peaks of 15828-15900.
The current scenario is to wait until the price breaks the trend to confirm the rise
