As you see in the 4H chart, we have an uptrend which has started a correction phase in the form of a flag pattern .
Currently, price is bouncing in a bullish flag pattern and struggling to break the Weekly High (93.250)
If the Weekly High and the flag pattern broken out to the upside and fixed above them, we can expect a rise on the index around the Monthly High (93.700) and in the case of an upside breakout on this level, the next target would be 94.00 which is the next resistance barrier.
Currently, price is bouncing in a bullish flag pattern and struggling to break the Weekly High (93.250)
If the Weekly High and the flag pattern broken out to the upside and fixed above them, we can expect a rise on the index around the Monthly High (93.700) and in the case of an upside breakout on this level, the next target would be 94.00 which is the next resistance barrier.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.