Possibility of the total index falling to the channel of 1.1 million units? Stock return was unlikely

According to Tejarat News, the stock market had a negative trend this week. The overall index has been falling sharply since the beginning of the week. In the middle of today’s market, the total index with 21,000 units falling is approaching the support floor of 1.2 million units and the possibility of entering the channel of 1.1 million units is not unexpected.

“The stock market is falling faster than anything else because of unfulfilled promises and holidays,” said Payam Eliaskordi, a stock market expert. Due to the descending channel in which the total index was, unfortunately, the line has been lost and has moved downwards.

He continued: “Since the total index in the channel was one million and 390 thousand units, it started to decline. These rains were very high and the conditions were very bad. As the overall index is falling, it is breaking one support after another. Unfortunately, with the severity of the decline we see, the probability of failure of the support floor of 1.2 million units is very high.

Eliaskordi said: “The reality is that there may be support for tomorrow’s market, but this sharp decline was repeated in October last year.” The index of total numbers had seen much lower than this, and even now, with the intensity that is falling, reaching the channel of 1.1 million units is not unexpected. If the value of trades next week is the same, nothing good will happen to the overall index.

The latest stock market news on the page Exchange Read Business News.