Consolidation Signals Key Breakout Potential in Index Levels
The price is currently consolidating within the 20,490 to 20,550 range. Sustained movement above this zone, with a 4-hour candle close above it, would indicate a bullish trend, potentially reaching 20,700.
Conversely, a break below the pivot zone, confirmed by a 1-hour or 4-hour candle close, would favor a bearish outlook, targeting 20,420 and potentially extending to 20,240.
Key Levels:
Pivot Point: 20490 - 20550
Resistance Levels: 20700, 20790, 20945
Support Levels: 20420, 20240, 20125
Trend:
- Bullish above 20550
- Bearish below 20490