We currently have two price channels clearly marked on the chart in the two hourly time frame which might continue to serve as a guide for future price movements.
The Index had a good run after bouncing at the bottom of the downward price channel and breaking into the upward price channel on 4th May 2018 Prices reached the top of the price channel on 14th of May 2018 but failed to break out above 2740.80 resistance price point.
We already have three consecutive days in the red and prices will need to hold above 2705.80 before heading up to test 2724.60 and 2740.80 resistance.
Failure to hold above 2705.80 could see prices fall further to around 2683.80 and 2667.60
The Index had a good run after bouncing at the bottom of the downward price channel and breaking into the upward price channel on 4th May 2018 Prices reached the top of the price channel on 14th of May 2018 but failed to break out above 2740.80 resistance price point.
We already have three consecutive days in the red and prices will need to hold above 2705.80 before heading up to test 2724.60 and 2740.80 resistance.
Failure to hold above 2705.80 could see prices fall further to around 2683.80 and 2667.60
