BUX
Following the new high, the market remains in a correction phase. Due to the previous high, the zone between 131,250 and 132,810 serves as a key support level. If the price can remain above this range, the long-term trend may remain intact, and a new upward wave could begin with a breakout above the thin red trendline. However, if this zone were to break down and the index were to begin a deeper retest, it would significantly worsen the technical picture. In this case, it could become more difficult to recover from the decline, and the likelihood of a lower high forming would increase. As long as the uptrend remains intact, the level around 150,000 could remain a realistic target, based on a previous trend-confirming pattern. However, a decisive break above the 137,500 resistance level would be key to this.
Resistance levels: 137,500; 140,625; 143,750; 150,000.
Support levels: 131,250; 125,000; 118,750; 112,500; 106,250; 100,000.
