The KSE-100 Index has been respecting its uptrend channel very well, consistently forming higher highs (HH) without breaking its higher lows (HL). This structure confirms that the primary short-term trend remains bullish.
However, today the market has shown its first clear intent of a short-term correction. This corrective signal is further supported by the bearish RSI divergence, indicating weakening momentum after an extended upside move.
From here, price may seek support at the following key levels:
1️⃣ First Support (182,500 area)
This level corresponds to the previous resistance of the uptrend channel, which was recently broken. A successful retest of this breakout zone can act as the initial support.
2️⃣ Major Support (177,000 area)
The second and more important support lies near 177k, which aligns with the rising wedge breakout trendline within the uptrend channel. This zone may act as a stronger demand area in case of a deeper pullback.
Overall, while the broader trend remains bullish, a controlled short-term correction is likely, and price reaction at these support levels will be critical for the next directional move.
However, today the market has shown its first clear intent of a short-term correction. This corrective signal is further supported by the bearish RSI divergence, indicating weakening momentum after an extended upside move.
From here, price may seek support at the following key levels:
1️⃣ First Support (182,500 area)
This level corresponds to the previous resistance of the uptrend channel, which was recently broken. A successful retest of this breakout zone can act as the initial support.
2️⃣ Major Support (177,000 area)
The second and more important support lies near 177k, which aligns with the rising wedge breakout trendline within the uptrend channel. This zone may act as a stronger demand area in case of a deeper pullback.
Overall, while the broader trend remains bullish, a controlled short-term correction is likely, and price reaction at these support levels will be critical for the next directional move.
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.