This seems to building up nicely for a SHORT position. If the index continues to break the channel, then there could be some good potential for more downside. Targeting the 12830 level first. Be careful with any sharp reversals.
@JFD_Research please update this, very good analysis.
JFD_Research
⋅
@formobilogmay, we continue to target 12600. A break below that could take the index towards the area around 12450. If we get a scenario like that, then we will have re-evaluate everything again.
If the 12600 level holds, for us to see a bit recovery, we would need to see a good daily close above 12750, in order to consider hitting the 13000 again. But before it could hit 13000, the index would need to overcome the 12830 first.