DOWNWARD MOMENTUM PERSISTS
The market continued its strong downward momentum despite the signal of curbing the decline in the previous session. Liquidity decreased compared to the previous session, indicating that supply is still dominant across the entire market, while supporting cash flow is cautious due to potentially large latent supply.The current movement shows that the market's decline has not stopped and has fallen below the 1,150 point support area. The current downward momentum may continue in the next trading session, with the next support area being the 1,080 – 1,100 point area.
This support area is close to the trendline connecting the low of April 2020 and the low of November 2022; it is expected that this support area will have a stronger supportive impact and help the market curb the decline.
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