Equities found relief after the SNB came to the rescue of Credit Suisse. A bullish RSI divergence showed a slowdown in the sell-off momentum. A brief drop below the daily support of 11820 was followed by a swift bounce above 12050, easing the selling pressure. The index surged above the support-turned-resistance of 12320, prompting sellers to cover and paving the way for a sustained recovery towards 12740. In case of a pullback, the base of the latest impetus at 12220 is key in keeping the bulls hopeful.
