WIDESPREAD PROFIT-TAKING
The market unexpectedly plunged after the session where it broke above the old peak of 1,536 points. Liquidity increased compared to the previous session, indicating that supply is dominant due to strong profit-taking by investors.This sharp decline suggests that the market may have ended its previous upward phase and entered a correction. Concurrently, the 1,536-point old peak continues to act as a resistance area for the market.
The downside potential might persist in the next trading session, but it's expected that the market will find support at the MA(20) area, around 1,465 points, and rebound to retest supply before the 1,536-point resistance area.
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