Current price: 46900
Key point: 46800
Our preferred direction: Buy positions above 46,800 levels with 47,000 as the first target and then 47,300 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 46,600 level, targeting the 46,200 level.
Technical commentary
The index has been rising strongly since the middle of this month, from the support level of 45,400, breaching the 200-day moving average on the four-hour frame, and the resistance levels of 46,600 and 46,800, and is currently consolidating above them. If the 47,000 level is breached, the index will then head towards the 47,300 level, forming a new all-time high.
