we have had a big fall in the past two days. A even further slide seems inevitable at this moment, as we can see the candle stick breaks the support level we have from the high of pre-corona period (Feb, 2020).
Two key supporting level we could look at are:
1. around 3220, but this level is relatively weak. and I will not be surprise if the index decide to break through it directly.
2. 3000- 3050, this area of support has been tested for a couple times and is also indicates by monthly moving average. If the index does have a big fall in the upcoming weeks, we can expect a bounce or at least some resistance here.
With the current situation of Corona and a general unstable political atmosphere, I remain bearish for the upcoming two months. (waiting for the election )
Two key supporting level we could look at are:
1. around 3220, but this level is relatively weak. and I will not be surprise if the index decide to break through it directly.
2. 3000- 3050, this area of support has been tested for a couple times and is also indicates by monthly moving average. If the index does have a big fall in the upcoming weeks, we can expect a bounce or at least some resistance here.
With the current situation of Corona and a general unstable political atmosphere, I remain bearish for the upcoming two months. (waiting for the election )