Since the beginning of the year the index gained more than 3.5% facilitated by last week rally of 1.16% and continues in a bullish phase since early December 2016. Last week the index rallied with a narrow range but managed to close near the high of the week, in addition closed above the previous week high, which suggests a strong bullish momentum. The stochastic is setting lower highs while price is making higher highs, signs of a potential bearish divergence. Expecting a downward move to a weekly support at 4,739.25 on a break below the previous week low at 4,989.75 (scenario 1) however a bounce from the weekly support at 4,739.25 may push the index back up to the Fibonacci extension at 5,010.53 (scenario 2).