Weekly Forecast (May 29 – June 2, 2023)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1344,2, which will be followed by moving up to resistance level 1392,2.
Downtrend scenario
The downtrend may be expected to continue in case the market drops below support level 1344.2, which will be followed by reaching support level 1304,6 and 1255,4.
Monthly Forecast, May 2023
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1455, which will be followed by moving up to resistance level 1501.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 1440 – 1455, which will be followed by reaching support level 1383 and if it keeps on moving down below that level, we may expect the market to reach support level 1350.
