We will focus on the recent trades, especially in the secondary chart, where it seems that the index is trying to settle above the 76.4% Fibonacci level for the entire downside wave that started from 14266 to 6461, where several positive technical factors are supporting this point of view including:
 

1. Trading within the short term upside channel – minor channel-.
2. The 50 Moving Average, which continues to provide support for the index.
3. The successful retest to the neckline of the bullish technical model shown in red

Accordingly, we believe that the index is poised for more upside direction over the short and medium terms, however, we might also witness some fluctuations and tendency to undergo downside correctional waves amid the clear negativity on the Stochastic, which might delay acquiring the awaited targets for some time.

The first expected target for the index is the 12845 level and then trying to settle above the psychological level at 13000, on the other hand, we should note that breaching the 12125 level and settling below it could delay the targets, since it will lead the index towards further downside correctional movement around the 11800 level.