ASI
In the weekly chart, the index closed with a bullish green candle, finding strong support within the 10450-10550 range. Additionally, the RSI indicator respected its supporting trend line.
Shifting to the daily chart, a robust green candle formed, breaking through the immediate resistance at 10847.27. The next key resistance zone for the index lies between 10960 and 11120, coinciding with the expected meeting point of the 10-day moving average (DMA).
Intriguingly, the RSI indicator on the daily chart exhibited promise as the index found support at Trend Line #4 and managed to break and close above both Trend Lines #1 and #3. The ultimate signal for a confirmed upward trend will be when Trend Line #2 is successfully breached.