Weekly Forecast (January 16 – 20, 2023)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 685, which will be followed by moving up to resistance level 702 and 711.6.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 685, which will be followed by reaching support level 648 – 644.
Monthly Forecast, January 2023
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 671, which will be followed by reaching resistance level 702.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 671, which will be followed by moving down to support level 635 and if it keeps on moving down below that level, we may expect the market to reach support level 595 – 589.
