The index has been in a range since yesterday's rebound on its long-term uptrend line.

Range level:

- Upper boundary at 18,368 points (also represents the closing of a gap)
- Boundary below 17,771 points (level already tested yesterday evening and also representing the 50% Fibo retracement level).

A bullish exit could take the price back to last week's highs at 19,558.

A breakout from the bottom of the range could take prices back to the long-term uptrend line.


Maxime Dominguez - Analyst for Activtrades


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