After opening with a gap down, the index remained below the lower end of the trend channel but managed to close above it after last hour buying, and sustaining above 2 weeks' average successfully throughout the day.
A gap down opening would confirm a continuation of the recent downtrend. A breach of 20900 would take the index down to 20500 - 20000.
A gap up opening, with a strong support above 21500 should lead the index towards 22000. A positive crossover in Stochastics, while in an oversold zone, could boost the index to 22400.
A gap down opening would confirm a continuation of the recent downtrend. A breach of 20900 would take the index down to 20500 - 20000.
A gap up opening, with a strong support above 21500 should lead the index towards 22000. A positive crossover in Stochastics, while in an oversold zone, could boost the index to 22400.
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The index failed to grab the momentum to go higher.