Difficult correction: Level 3780 – 3870 local top.

What’s on the market now:

Today the index is trading at the level of 3790. And in the last trading session, we saw a sharp rise in the index to the level of 3780 – 3800, which I wrote about earlier. Although this level is a good place to go short, I expect the market to move a little higher to the 3870 level. But then we will see a sharp drop to the 3500-3460 target zone.

What today:

Today I expect the index to correct to the level of 3670. And then the index will try to rise to the level of 3870. However, if this attempt is frustrated, then there is a possibility of a sharp fall to the level of 3500.

Here are my trading recommendations for today 10/05/22

What I recommend:

• If you want to open short:
  Short positions are possible from the level of 3870, limit your losses.
• If you want to buy:
  Long positions are prohibited. There is a possibility of a sharp fall to 3500, limit your losses.
• If you are not in the market:
  If you want to open long positions, then it is better to do it from the level 3460-3500. Short positions are possible from the level of 3870, limit your losses.
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