IS CURRENTLY TRADING BELOW THE CRUCIAL RESISTANCE LEVEL OF 107K, INDICATING THAT BEARS ARE STILL IN CONTROL.
UNTIL WE SEE A STRONG BREAK AND DAILY CLOSE ABOVE 107K WITH VOLUME, THE MARKET REMAINS VULNERABLE TO DOWNSIDE MOVES.
IF BULLS FAIL TO PUSH THROUGH, WE COULD SEE A CORRECTION BACK TOWARDS THE 98K–99K SUPPORT ZONE — A LEVEL WHERE BUYERS HAVE PREVIOUSLY STEPPED IN.
SHORT-TERM TRADERS SHOULD BE CAUTIOUS, AS FALSE BREAKOUTS ARE COMMON IN RANGING MARKETS.
FOR NOW, THE TREND REMAINS BEARISH — WATCH 107K CLOSELY FOR CONFIRMATION OF ANY SHIFT IN MOMENTUM.
TRADE ONLY IN SPOT. 🍁
WISH YOU ALL THE VERY BEST. 🍁
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