🚨 The sentiment index in the futures market has dropped to a level lower than 36% compared to the neutral zone. After a surge from August 11 to 14, when this index peaked at 70% as prices skyrocketed to 123,000.

Currently, prices are holding at 115,000, while the momentum index is decreasing: within the index structure, sellers dominate in the short term (net buying and negative volume spread) with neutral open interest. This means that the market has shifted from a high state of excitement to a phase of trading within a narrow range.

This profile means that while the index remains below the 45-50% level, there is a likelihood of rebounds, and prices are likely to fluctuate within a narrow range. The prolonged decrease of the index during weak rebounds increases the risk of testing the threshold of 112,000.

The main factor driving this week is Powell's speech on Friday at Jackson Hole (Economic Outlook and Framework Assessment), which may guide future sentiment.