COOLING DOWN
The market made an effort to test the area near 1,700 points but was unsuccessful and pulled back at the end of the session. Liquidity increased compared to the previous session, showing that supply is showing signs of increasing as the market approaches the previous peak area and is putting pressure on the market.The cooling-down signal indicates that the market is not yet ready to break above the previous peak area, at 1,700 points. It's expected that profit-taking pressure will continue to put pressure on the market in the next trading session, and it is likely that the market will need to pull back to the area near the MA(20) line, at 1,663 points, to attract additional supportive cash flow.
For the market to truly stabilize and have the momentum to return to an upward trend, cash flow needs to make an effort to absorb supply and help the market maintain stability above the MA(20) line in the near future.
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