Weekly forecast, May 22 – 26, 2023

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 1,2546, which will be followed by moving up to resistance level 1,2666.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 1,2546, which will be followed by reaching support level 1,244 and if it keeps on moving down below that level, we may expect the market to reach support level 1,2274.

Monthly forecast, May 2023

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 1,2447, which will be followed by moving up to resistance level 1,3160.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 1,2447, which will be followed by reaching support level 1,1802.