OMX 30 – Next Key Support Broken (Daily chart)
|Price Action Context
The price action on the Swedish index this year has been relatively clean as zones have been well respected on multiple occasions. The key support around 1 550 also failed to stop the strong selling originating from the multi-year resistance around 1 700, changing our MT bias to bearish.
Trending Analysis
Bearish bias and the current pullback towards the broken key support, now resistance, can present potential shorting opportunities.
Key Support & Resistance Zones
R: 1 545 – 1 565
S: 1 475 – 1 500
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