RECOVERY EFFORT
The market quickly recovered despite the heavy selling pressure from the previous session; however, the recovery progress still faced difficulties, as shown by the upper candle shadow at the 1,715 level. Liquidity increased compared to the previous day, indicating that supporting cash flow has returned and is contending with supply.The current recovery signal may help the market continue to test its recovery potential in the next trading session. Nonetheless, this rebound may temporarily be technical in nature to retest supply and demand.
The risk of hitting resistance and correcting remains latent as the market approaches resistance zones such as 1,710 - 1,750, due to the significant imbalance experienced recently. For a new uptrend to form, the market will need time to absorb supply and re-establish equilibrium.
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