British News Agency

According to A1 Capital’s analysis, the April futures BIST 30 contract started the last trading day of last week at 16,610, up 0.09 percent. After a flat start during the day, volatile movements became effective; while the contract closed the regular session in negative territory, it recovered in the evening session and closed at 16,646, rising 33 points compared to the regular session.

According to the assessment in the bulletin, the downward trend in stochastic, MFI and momentum indicators points to a loss of momentum and strength in the short term. However, the upward signals produced by RSI and MACD indicate that the recovery potential on the price side has not completely disappeared and that rebound buying may remain on the agenda.

Due to the mixed signals in the technical outlook, a volatile and cautious course is expected in the short term, while it is emphasized that it is important for the price to hold above current levels and for weak indicators to show improvement in order for the upward movement to regain strength.

According to the analysis, if the new day starts with rebound buying and these purchases continue throughout the day, pricing above the 16,798 level is of critical importance. If persistence above this level is achieved, it is projected that the upward movement may gain momentum and continue up to the 16,940 level.

In possible pullbacks, the 16,535 level will be monitored as the first short-term support. If this level is broken downward, the 16,380 and 16,200 levels will be followed as lower support points.