Current price: 47500
Key point: 47130
Our preferred strategy: Buy positions above 47130 with a first target of 47700 and then a second target of 48000.
Alternative scenario: Stop loss and trend reversal upon breaking the 47050 level, targeting the 46600 level.
Technical commentary
With the opening of the week's trading, the index managed to break through the resistance level of 47130, which was considered the historical peak, reaching levels of 48035 as the new peak. With yesterday's trading, the natural corrective decline began, allowing the index to cover the price gap with which it opened the week. It is expected to reach the support level of 47130 and then resume its rise again to the levels of 47700 and then the levels of 48000.
