CURBING THE DECLINE
The market continued its downward momentum but quickly found support in the area around 1,165 points, the low of April 2024, and rebounded. Liquidity continued to increase compared to the previous session, indicating that supply is dominant across the entire market, but bargain-hunting cash flow is also active.The current movement shows that the market has temporarily identified a low price area after the recent sharp decline, which is around the 1,160 point area.
The current support signal may help the market recover in the near term and retest the 1,230 – 1,250 point area, a support area that the market recently lost. It is expected that the market will continue to experience rapid up-and-down fluctuations to find an equilibrium point and probe supply and demand before determining its next move
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