The index is consolidating above the margin zone, with open interest accumulating at the next margin level; consequently, this area represents a clear target.
Overall, indices are signaling bullish potential, driven by expectations surrounding the deal with Iran.
It is also worth monitoring the 28 700 level, where daily balances are concentrated and peak trading volume is expected.
We are currently testing balance levels, having formed a local high there. With additional spread accumulation and prices now trading above the spread's breakeven point, there is a high probability of a breakout above the recent highs to target the marginal zone and the strike at the 29,000 level. Watch the extremes closely.
Iran Conflict: Equities continue to rally on hopes of a renewed ceasefire
Global equity markets have extended their recovery following the downturn sparked by the Iran conflict, driven by optimism regarding a potential peace deal. The resumption of oil traffic through the Strait of Hormuz is mitigating risks regarding the conflict’s economic impact.
