The index confirmed its upward trends at all-time levels by breaking out to a new all-time high. Our main scenario envisages a further rise in prices, with a target of 24,000 points over the next six months. We will maintain this analytical view for the time being as long as the index remains above 20,200 points.
If the index falls below the 20,000 – 20.200 point range, we expect a correction to the 19,000 point range. This is where cluster support, consisting of EMA 200 and a medium-term upward trend, is located.
Below 19,000, the chart picture is more neutral.
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