ADX ready for take off?

📈 Current Price & Volume
• The index closed most recently around 9,981.5 AED—near its 52‑week high of 10,000.87 AED
• Today’s trading volume was unusually strong—roughly triple the 3‑month average—which often signals a potential trend shift ().

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🔍 Technical Summary (Investing.com)
• Overall stance: Strong Buy across daily, weekly, and monthly timeframes .
• Oscillators (RSI, MACD, ADX) are bullish:
• RSI at ~68 indicating bullish momentum (just below overbought)
• ADX trend strength at ~36 
• Moving Averages: All key averages (5, 10, 20, 50, 100, 200) show Buy signals .

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📊 Chart Pattern Insights
• TradingView commentary suggests a breakout from a falling wedge—a bullish reversal pattern.
• The index has moved into a confirmation phase, consolidating near all-time highs before the next leg up ().

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⚙️ Support & Resistance Levels
• Resistance: Around pivot zone of 10,001–10,021 AED (R1–R2 from pivot points) .
• Support: Established near the 9,800 AED range, close to prior breakout point.

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🧭 Summary of Technical Trend
• Strong uptrend momentum, validated by multi-timeframe buy signals.
• Fresh breakout from wedge pattern suggests further upside potential.
• Elevated volume supports sustainability of this rally.

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➤ NOTES:
• Bullish Momentum: Strong buy signals across oscillators and moving averages; trend strength confirmed by ADX.
• Pattern Breakout: Completion and breakout above falling wedge indicates reversal into bullish phase.
• Support Surround: Healthy volume and solid support around 9,800 AED reduce short-term downside risk.

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🗂️ Tactical Setup
• Entry: On a clean break above 10,021 AED (R2 pivot) with sustained volume.
• Target: Next resistance zone near 10,200–10,300 AED.
• Stop-loss: Below 9,800 AED support area.