Hi there,
The New Zealand index appears overall bearish on the 4-hour chart, with the current price holding above the support trendline near 12,261.07.
The price could potentially rise to the projected (B) area or higher, depending on the bullish strength at the 12,172.34 low.
A break below the trendline and the low of (A) would likely continue the bearish momentum, targeting 12,028.86 or possibly falling further to 11,445.11.
Happy Trading,
K.
Not trading advice.
The New Zealand index appears overall bearish on the 4-hour chart, with the current price holding above the support trendline near 12,261.07.
The price could potentially rise to the projected (B) area or higher, depending on the bullish strength at the 12,172.34 low.
A break below the trendline and the low of (A) would likely continue the bearish momentum, targeting 12,028.86 or possibly falling further to 11,445.11.
Happy Trading,
K.
Not trading advice.
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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.
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.