The breakaway price has broken the 13167.00 level and is now stabilizing below it, which supports our continued bearish outlook for the coming period, paving the way for our next target at 11160.00.
Therefore, we will continue to bias the bearishness in the coming sessions with the support of the negative pressure provided by the SMA 50, consistently within the descending channel shown in the chart above, noting that the continuation of the expected decline depends on stability below 14409.00.
The trading range for today is among the key support at 11100.00 and resistance at 14000.00
The general trend for today is bearish