On yesterday's decline the market is forming a local support level at 1908.4. From the opening of the new session we see a retest of this area without any strong counter-trend pullback. It is clear that the bears are strong at the moment, as evidenced by the futures volumes.
The market is in a downtrend, earlier there was a retest of 1916.7, the next target may be the support area (liquidity area) 1903, but from this area, as 1903 is a strong enough support area, a rebound may follow and form a flat or consolidation before a further maneuver. Within the flat, the price may reach resistance.
Support levels: 1908. 1903
Resistance levels: 1916, trend line
I expect a retest of 1908 with a subsequent breakout and testing of 1903. From 1903 a rebound to local resistance is possible before further fall.
Regards R. Linda!
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