• The index has an open gap at 3,818, which is a technical support level; • Today, it is trying to stabilize above this gap, but the trend is still bearish; • As long as the index keeps doing lower highs/lows in the 1h chart, and it stays below its 21 ema (which is pointing down, by the way), we can’t say the trend will reverse; • So far, there’s no bullish reaction around indicating a possible bounce; • For now, let’s keep our eyes on this gap at 3,818.
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