IXIC fighting hard to rebound from the top end of the cloud chart support zone! Vital that the index stays above the 11441 support zone! If price trades below this level of the cloud the outlook on the daily cloud chart will change to bearish from bullish!
Recently the IXIC rebounded from the critical support zone of 11500, only to run into trouble when it hit older resistance zones between 12351 and 13110! The trade then reached profit taking zone at these old cloud chart resistance zones! Rebound swing trade potential from this cloud chart support zone!
Long-term price action still below the cloud and this remains bearish on the weekly cloud chart! Bottom end of the cloud remains key resistance zones that can test any bullish rally!
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