The price is now testing a significant area of support, and the bears seem to be fading. More evidence is needed before we initiate BUY positions with the intention of going long.
The support rests at 1726.89 with resistance at 1730.69. The pivot point at 1729.17 and the price is moving above it. The EMA of 10 is moving in bearish bias in the descendant channel and it is below EMA of 200 and the EMA of 100. Stochastic is moving in low ranges and generated a buy signal. The RSI is moving toward the level of 50 and the ADX is showing a horizontal momentum. The MACD histogram is in negative territory.

• There is resistance at 1730.69, followed by resistance at 1732.97 and 1734.49.
• There is support at 1726.89, Below, there is 1725.37 and 1723.09.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

ggold