A corrective rally inside a larger descending trend line
has officially ended yesterday, given the bearish
break from a smaller rising channel
seen on the daily chart
(on left hand side).
The daily MACD
has turned bearish
as well, suggesting the upticks are likely to find fresh sellers.
The downside towards 2900 stands exposed and the bearish
invalidation is seen only if the index ends the day above 3K levels.