KSE100 closed a second consecutive week in red, making a weekly loss of -1220.68 points or -2.68%. Our important benchmark of 45500 +/- 300 was finally crossed and honored as support which sends out a strong signal of bulls returns. Looking forward, the index is expected to see a triple top at 47000 +/- 300, and a breakout from here would lead to a double top formation at its all-time high of 53000 +/- 300. On the downside, support remains valid at 44700 - 43000 +/- 300. We expect a few more hiccups ahead, but overall stability has started to emerge. Last week's update blew the horn to mark the start of bear hunting season and there appear very reliable sharpshooters in the league! Plenty of trophies await them. To better understand this update, please review previous updates from the last few weeks.
[Edit: Correction has been made to incorrectly report index figures]