Recommendation for GB 100 Index:Buy
Buy Stop : Above 6948.91
Stop Loss : Below 6617.12
RSI : Sell
MACD : Buy
Donchian Channel : Buy
MA(200) : Buy
Fractals : Neutral
Parabolic SAR : Buy
Chart Analysis
The GB100 technical analysis of the price chart on daily timeframe shows GB100: D1 has retraced above the 12-month high it hit in the beginning of 2021. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 6948.91. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 6617.12. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (6617.12) without reaching the order (6948.91), we recommend cancelling the order: the market has undergone internal changes which were not taken into account