Recent drops brought us down to buy zone which is most likely to hold for next weeks and for christmas rally, we could have nice rebound to new levels marked on chart in yellow circles. Volume shows two possible resistance levels, which need to be broken to continue higher. Most important level to break is at 11 500.
We are currently trading at S3 level which also has significant volume so this level ight not be easy to break but bears are strong, trend is bearish so we might see breaking this S3 level and keep going to S4 which is next major support.
At S4 it all could reverse and go for another bullish run and a new high.