to 58K first and to 44K second

Morning folks,

So, the bearish setup that was ripen through the previous two weeks has been triggered. Our 59K level has worked perfect and its breakout has put the background for stronger sell -off. To keep it simple, I try to show our trading plan on the chart. First, we expect upside pullback and re-testing of broken wedge and our 58-59K area. But, by our view downside action should be compounded, and have two legs. Thus, next stage is downside continuation to strong 42-42K area that should be perfect for taking long position. This is our major trading setup.

As a secondary trade it is possible to consider short position from 58-59K with 42-44K target and even smaller one, for intraday traders - upward action to 58-59K. This is preliminary setups. Bearish position should be confirmed by patterns around 58K area.