Index is probing below the Rising Wedge formation. Either it is a serious shift of trends or just a gravitation to the Yearly Pivot Point, which is still untested. It is often the case, that price or index like to test the Pivot Point in any given time period. Yesterday index tested the Monthly S1.
Below the Monthly S1, at 12025, stands the Yearly PP at 11967 and below that also the Kumo Cloud at 1855.
A weekly close below the Rising Wedge will be a first sign of a shift in sentiment going forward. A close below the Monthly S1 will add to this shifting bias. Still, it is easy to see that trend is still bullish, as index is trading above the Kumo Cloud. A weekly close inside the Wedge will again put the upside in play towards the high around 12300. The one year consolidation might be coming to a close and it is good to keep an eye on that.