CONTENTION
The market continued to recover, but the movement was rather cautious with a state of contention between supply and demand. Liquidity increased compared to the previous session, suggesting that cash flow still made efforts to support the market but showed caution in the face of supply pressure from the resistance area.The current contention reflects that the market is still in the process of probing supply and demand before determining its next move. However, recent support signals at the MA(20) area may still provide a supportive and uplifting effect on the market in the near future.
The market is expected to continue to find support on pullbacks and gradually advance towards the resistance area of 1,340 – 1,350 points. Supply and demand signals during this probing process may have a significant impact on the market's next move.
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