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The daily chart shows price moving quite nicely within a bullish channel, with buyers happy to step in on pullbacks into the five-day EMA (the purple line). This is obviously bullish, although if we look at price action and the daily candles we can see a lack of real conviction to push prices higher, with small bodies in the candles. There is a measured calm from both the buyers and sellers, and while the index is printing higher highs and lows, there are no real signs of euphoria. Price action could be best described as a cautious optimism.