Weekly forecast (December 27 – 30, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 3975, which will be followed by moving up to resistance level 4101.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 3919 – 3945, which will be followed by reaching support level 3677.

Monthly forecast, December 2022

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 4050,75, which will be followed by reaching resistance level 4175 and if it keeps on moving up above that level, we may expect the market to reach resistance level 4327,50.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 4050,75, which will be followed by moving down to support level 3912 and if it keeps on moving down below that level, we may expect the market to reach support level 3704,25 – 3639.