BUX
The level of technical overbought has already surpassed all previous peaks on both weekly and daily timeframes. If we were in the early stages of a trend, this would not be so significant, but the stock market index has already risen significantly, so this cannot be ignored when considering further long recommendations. However, a correction cannot really begin until a clear reversal candle appears. Upwards, in the range above 125,000, 128,125 and 131,250 represent important resistance levels. A significant trend reversal can only become realistic if we see a decisive, strong downward day accompanied by significant trading volume, thus signaling a weakening of buyer dominance.
Resistance levels: 128,875; 131,250.
Support levels: 112,500; 106,250; 100,000; 93,750.
