The index will continue higher next week. First it will take out the current high at 1515 before continuing towards 1530.
However there are two ways for it to do it:
Scenario1: Early of the week at market open price will straight making a move higher. This is supported by the higher closed of the weekly candle that already mitigated the bearish condition.
Scenario2: The index might retrace into 1490 area before creating a support to continue higher. However a closed below 1490 will give a hint that there is a shift towards a bearish condition.
Overall bullish condition into next week.
However there are two ways for it to do it:
Scenario1: Early of the week at market open price will straight making a move higher. This is supported by the higher closed of the weekly candle that already mitigated the bearish condition.
Scenario2: The index might retrace into 1490 area before creating a support to continue higher. However a closed below 1490 will give a hint that there is a shift towards a bearish condition.
Overall bullish condition into next week.
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