Updating our technical outlook for the index, we can see the ascending channel that succeeded in carrying the movements over short term basis towards the previous suggested technical objective at 12872.00, where the index continued fluctuating since the opening of this week.

Trading remains organized within the major and minor price channels seen on the provided daily graph while SMA 50 continues supporting the bullishness.

But, momentum indicators are now preventing the index from penetrating 12872.00 levels -very important technical obstacle- which should be breached to confirm the bullishness and to open the path towards 14000.00 zones.

In general, the major direction remains bullish; noting that the current resistance levels may change the short term direction and may send the index towards the support of the main ascending channel at 11000.00 zones.