After several weeks of consolidation - at relatively crucial levels - the market fails to show any bullish conviction. So rather than follow through on quite bullish and favourable ingredients, the market didn't even attempt a breakout rally. This is a sign of underlying weakness or (minimally) lack of conviction.
We remove the bullish bias and return to completely neutral.
Trend: neutral
Outlook: lack lustre at critical moment --> neutral
Strategy: avoid
Support: 6160 / 5845-
Resistance: 6810 / 7190 / 7550 / 8415 / 10320*
We remove the bullish bias and return to completely neutral.
Trend: neutral
Outlook: lack lustre at critical moment --> neutral
Strategy: avoid
Support: 6160 / 5845-
Resistance: 6810 / 7190 / 7550 / 8415 / 10320*