ASI - All time high in 2025 Q1?1. Observations on Fibonacci Levels
Current Resistance at 0.786 Fib Level (~12,123):
The index has successfully moved past several key Fibonacci retracement levels and is now approaching the 0.786 level.
A confirmed breakout above this level, with a daily/weekly candle close, would further strengthen the bullish momentum.
Golden Pocket (~10,969 - 11,189):
The golden pocket zone (0.618) previously acted as strong resistance, but it has now turned into a support zone, affirming the current uptrend.
Target: 1.618 Extension (~17,837):
The 1.618 Fibonacci extension level at 17,837 is a likely target if the index maintains its bullish momentum throughout 2025.
This projection aligns with a potential all-time high under strong market conditions.
2. Channel Observation
The ASI is trading within a clear upward parallel channel, with higher highs and higher lows forming a solid bullish structure.
The upper bound of this channel aligns with the 1.618 Fibonacci extension level, further strengthening the case for 17,837 as a medium- to long-term target.
3. Indicators
RSI:
The RSI is nearing overbought levels, suggesting that the index might face short-term resistance or a pullback before continuing its upward trajectory.
MACD:
The MACD is showing bullish momentum, with a positive crossover and rising histogram bars. This supports the upward trend.
4. Key Levels to Watch
Support Levels:
12,123 (0.786 Fib): Needs to hold as support if the index retraces.
10,969 - 11,189 (Golden Pocket): Acts as the next strong support zone.
10,158 (0.5 Fib): A deeper retracement level, likely to hold during a major pullback.
Resistance Levels:
Immediate resistance is at 13,593 (1.0 Fib).
The next major resistance is the 1.272 extension (~15,257) before targeting 1.618 (~17,837).
5. Risks and Considerations
The overbought RSI could lead to short-term corrections.
Macro-economic factors, such as local and global economic conditions, could impact the bullish scenario.
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
