Morning Market Analysis for Monday, July 21:

Last night, the market rose to around 118800 after going up from around 117000 and then gradually fell back to around 116300 around midnight. It is currently rebounding and fluctuating around 117000.

Yesterday, the shipping index rose from around 3580 to around 3825 before falling back to around 3680; it is currently rebounding and fluctuating around 3730.

From the daily candlestick chart, there is upward pressure with attention on the support level around 115500, with secondary support around 114300. On the upside, watch for resistance around 118700, with secondary resistance around 120800. The 4-hour chart indicates downward pressure, with attention on the level around 118000, while the hourly chart also shows downward pressure.

Monday Morning:

The market is expected to test the support level around 116800-116500, aiming towards the level around 117800-118100.

A test around 3720-3700 is expected, aiming towards the level around 3765-3785.

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