Bullish n/t outlook above 14.12 Fibo support
Bulls are regaining traction and return above 200DMA (14.18) after two-day pullback (following double-rejection at 100DMA at 14.30), found footstep at 14.13 (just above Fibo 38.2% of 13.81/14.31 upleg).
Signals from daily techs are still mixed, as bullish momentum continues to rise, but stochastic is reversing from overbought zone, while RSI is flat and MA’s are in mixed setup.
Strong bullish momentum and daily cloud twist on 2 Aug, work in favor of bulls, which need firm break above key barriers at 14.30/33 zone (100DMA / Fibo 38.2% of 15.17/13.81 / 55DMA) to spark fresh extension of recovery phase from 13.81 base (also 200WMA) towards targets at 14.49 (Fibo 50%) and 14.53 (daily cloud base).
Conversely, repeated close below 200DMA would keep pivotal Fibo support at 14.12 under pressure, with break lower to risk deeper pullback.
Res: 14.23; 14.30; 14.33; 14.40
Sup: 14.12; 14.06; 14.02; 14.00