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Double top formation strongly hinting a bearish BIST 100

Short
BIST 100 Index (BIST:XU100)  
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BIST:XU100   BIST 100 Index
Trend Analysis Support and Resistance Fibonacci BIST bist100 XU100
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trendanalysis supportandresistance fibonacci bist bist100 xu100
Apart from the double top formation; my observations supporting a bearish BIST 100 are:
  • Already broke the 21 and 50 day SMAs.
  • Broke the upward trend for RSI.
Targets:
  • 1380-1420: 100 day SMA and %78.6 Fibonacci level.
  • 1280-1300: 61.8% Fibonacci level and support from the upward trend starting March 2020. This will also likely be around the 200 day SMA, too.
  • 1190-1210: 50% Fibonacci level and filling the gap from November 2020.
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