Elixir Grid - KSE100: Making Recovery
The benchmark KSE 100 managed to respect its current range and continued to move north after testing 40,300 dynamic support. It bounced off strongly after a bearish start to the outgoing week and settled at 41,320 mark, marginally above its short-term resistance of 41,150. Moving forward, ability to hold onto this area would add further respite to the levels of 42,000/200 while a break above that would turn attention to the descending resistance at 43,600 level. These inclines should be considered as a normal correction which will not cancel the long-term bearish structure.
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