As I indicated in my last post ~2914 support played out to be accurate.
We have seen a small bounce back but looking at today's trading in Asia, early morning DAX gap down and -1% on index futures , it looks like we will be testing the same resistance level today with a high probability to break it.
With most of the indicators in oversold, there might be some pushing around those levels.
If we are lucky we might even see another pull back up form these levels but these moves have very low change of success.
Current market sentiment is south. There is a lot of people who will try to buy a dip, hoping the market will get back to previous levels.
This is not entirely fals assumption (looking at the long term picture) but at this point 2898 - 2874 levels will be our next support.
We have seen a small bounce back but looking at today's trading in Asia, early morning DAX gap down and -1% on index futures , it looks like we will be testing the same resistance level today with a high probability to break it.
With most of the indicators in oversold, there might be some pushing around those levels.
If we are lucky we might even see another pull back up form these levels but these moves have very low change of success.
Current market sentiment is south. There is a lot of people who will try to buy a dip, hoping the market will get back to previous levels.
This is not entirely fals assumption (looking at the long term picture) but at this point 2898 - 2874 levels will be our next support.