SMI: Bullish extension for Swiss Stocks to 10,400.

٢٨ أكتوبر ٢٠١٩

The Swiss market has broken above the Rising Wedge's resisting trend line (dashed) and may follow the 1W Channel Up pattern (RSI = 63.217, MACD = 177.900, Highs/Lows = 173.0836) which started in early May. Based on the RSI break out it has an upside potential to at least 10,400.

Keep in mind that this break out is part of a larger bullish move as we illustrated in May (see the chart below). The Swiss Market Index (SMI) has entered a new long term Bull Cycle after it broke above its 12 year Resistance last April:

** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.