COOLING DOWN
The market continued its upward trend but quickly faced resistance when approaching the 1,700 point area and cooled down. Liquidity decreased compared to the previous session, indicating that cash flow showed cautious action as the market approached the resistance area, but supply pressure is temporarily not significant.The potential for a pullback and tug-of-war action may continue in the next trading session. However, it is expected that the market will quickly receive support and rebalance thanks to the supportive impact from the MA(50) area, the 1,668 point area.
Concurrently, this area will also create momentum for the market to continue its process of moving toward the 1,700 – 1,720 point resistance area in the near future.
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