CAUTIOUS MOVEMENT
The market remained cautious as it approached the resistance area of 1,340 points and retreated. Liquidity decreased compared to the previous session, indicating that cash flow remained cautious ahead of the resistance area, and supply was still exerting pressure on the market, although overall, temporary selling pressure was not excessively strong.The current corrective movement shows that the market has not yet completed its process of probing and rebalancing, with a trading range of 1,315 – 1,340 points, following a prolonged upward wave. There is a possibility that the market will need more time to retest the support area around 1,320 points, which is also the MA(20) area, in the near future. If cash flow continues to generate supportive momentum and uplift the market at this support area, then the market still has an opportunity to rebound.
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