CURBING THE DECLINE
The market continued its strong downward momentum but quickly found support at the 1,080 point area, near the trendline connecting the low of April 2020 and the low of November 2022, and rebounded. Liquidity increased compared to the previous session, indicating that supply is still dominant, but bargain-hunting cash flow is also active.The current support signal is helping the market curb the decline but is not yet strong enough to trigger a significant recovery. It is expected that the market will retest the 1,080 point support area before a more substantial recovery can occur in the near future.
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