British News Agency

BIST100

Following a slight positive opening yesterday, the BIST 100 index had a volatile session and ended the day with a loss of 0.35% at 8213.76 levels.

While the index has experienced weakness in the last two trading days, stock-specific movements are more prominent.

Looking at technical indicators, there are also disruptions in short-term indicators.

Therefore, we believe caution is advisable for existing positions.

Although selling pressure has not spread to the general market so far, there continues to be technical unease due to the possibility of forming a Double Top Formation after testing the 8400 resistance levels.

Although we consider the probability of this formation weak, the weakness will persist until 8400 is exceeded.

Therefore, we find it risky to open new positions until the 8400 peak is surpassed.

For the index, we can consider the levels of 8134 and 8095 as short-term support points.

Source: A1 Capital