BUX
The index has undergone two corrective waves. The natural support level at 131,250 has so far been able to hold the decline. 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 later 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.
