The index breached the upside correction level and the last was 61.8% at 10555 –the correction for the downside move from 11205 till 9507- this upside move was supported by the positive pattern and the breach of its neckline at 10455 –number one- which still has further upside targets reaching 11,000. 
The upside move hit the critical resistance at 10680 which represents the confirmation for continued bullishness over medium term basis, where it is the neckline for another bullish pattern, where the strength of this neckline is supported by negativity on momentum indicators over daily basis.
Therefore, we expect the index to fluctuate and trade with volatility before retesting 61.8% Fibonacci at 10555 before resuming the upside move targeting 10680 supported by the first technical pattern which still has upside targets.
Further upside movements are expected over short and medium term basis targeting areas from 11000 then extending beyond the recorded top on April 26 at 11205.
The expected bullishness requires a clear breach and daily closing above 10680 and stability of 10455 areas against any downside movements.
By: Yasir Mubarak
Senior Technical Analyst
[email protected]
www.ecpulse.com