BUX
The series of rising swing lows and highs is still intact; no pattern indicating a reversal has formed. A significant correction can be expected if the thin green uptrend line is broken. This trend line currently runs at the 143,750 level. On the buy side, a wait-and-see approach seems warranted for now, as the current technical picture suggests that the risk-reward ratio is not favorable for opening new long positions.
Resistance levels: 153,125; 156,250.
Support levels: 143,750; 140,625; 137,500; 134,375; 131,250.
