The market continues to move by the upper limit of the green channel. Since the price has gone beyond the red moving average and has fixed above this line, that the upper limit of the green channel and the resistance level of 1507 are likely to be reached soon. If we see a breakout of this level and the bulls continue to push the price, the price will get access to the resistance level of 1548. If the price drafts off the level of 1507 and begins to decrease, the decline may continue to the level of 1480, which is the support level and is located on the lower limit of the red channel.
