Technical outlook and chart setups:
As seen here on Daily chart view, a major bottom formation seems to have been formed at the 1,626.00 level and the platform should be set for fresh swing highs in the weeks to come. Looking into the resistance levels, 1,694.00 is intermediary, followed by 1,710/15, 1,720/25, 1,750/53, and 1,790/95; while 1,626.00 is major support. The current upswing should probably end at 1,740.00 level in the next 2-3 weeks time. Looking higher from here on.
Trading recommendations:
Hold on to long positions, build on intraday dips, stop is at 1,630.00, and target is open. Book partial profits at 1,730/35.
Good Luck!
