BUX
Last Wednesday's pullback, followed by Thursday's decline, may have marked a strong peak. The smaller candles of the last two days were characterized by a wait-and-see attitude. The steep jagged line also broke, and the index moved away from it. Theoretically, the situation is set for further decline, the trend has stopped, momentum has slowed, and there is a chance for further correction. Strong support around 118,750 and 121,875 would await testing.
Resistance levels: 131,250; 134,375.
Support levels: 118,750; 112,500; 106,250; 100,000.
