Long term Bearish
The index has been collapse since early Aug this year followed by a significant breached below an uptrend line and symmetrical triangle in late Oct coincide with MACD sell signal. The collapse was preceded by a Dead cross earlier in Sept, hence confirms our bearish view on the index. The index could continue the down move to at least 1386 which is a minimum triangle continuation target, which falls on the same level at Fibonacci 1.618.
Disclaimer: the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Disclaimer: the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Trade closed: stop reached
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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.