MOVING ABOVE MA(20)
The market experienced a fairly strong upward session, breaking above the MA(20) line, the 1,326 point area. Liquidity decreased compared to the previous session, indicating that supply pressure has eased, but supportive cash flow isn't yet truly strong and is gradually absorbing supply.The signal of returning above the MA(20) line could help the market move towards and retest the 1,350 point resistance area. However, this resistance area may temporarily still exert pressure, leading to contention in the market.
It's expected that the market will see probing movements in the 1,330 – 1,350 point area in the near future before clearer signals emerge. Supply and demand signals in this area will significantly impact the market's next move.
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