Pivot
(invalidation):
13295.00
Our preference
Short positions below 13295.00 with targets at 13040.00 & 12960.00 in extension.
Alternative
scenario
Above 13295.00 look for further upside with 13370.00 & 13444.00 as targets.
Comment
The RSI is bearish
and calls for further decline. The index price is nearing 2018 high at 13600
(+100% Fibonacci projection level of the reversal up trend
reported to August 2019 low). The
price index needs to stand above 12886 to maintain the bullish bias.
(By Swissquote TRADING CENTRAL)
