SLIGHT RECOVERY
The market saw a recovery but currently remains cautious and is being met with resistance at the MA(20) area, the 1,323 point area, which was a support level lost in the previous session. Liquidity decreased compared to the prior session, indicating that supply pressure has eased, but supportive cash flow remains cautious.With alternating upward and downward movements, the market is temporarily in a state of indecision. The previous downward pressure may still negatively impact the market, but the current decline is corrective in nature. Thus, the market is expected to find support quickly and recover if it retreats rapidly to the 1,290 – 1,300 point support area.
If the downward momentum is curbed, the market will still need more time to accumulate before it can move back above the MA(20) line.
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