It has been pushed back from 218//219 five occasions recently. Looks like it is a tough wall to break through. It has also shown preliminary sign of retracement that probably goes back to 212//210 level.
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Will see if it dashes through 79.5 wall. It could be one of the tougher ones to break through.
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Looks like 250 is the tough psychological resistance at this juncture. Without strong volume, it has been repeatedly pushed back to sub 24x level. Yet to see MA5, MA10, MA20 lines crosses MA30.
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Now, the attention is now falling on it.. to see if it can stay above 46 at all times. This will be crucial as leading to its AGM date. It will be impressive if it reaches a new high by this week.
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It has been consolidating in a tight range for a while. Perhaps it needs elevated attention to regain the support to establish an impressive movement. One disturbing observation.. the volume is getting noticeably thinner daily, which is not a good sign.
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The continuous effort in making HHs and HLs is an encouraging sign at this juncture. Immediately, any attempt to clear 3833 and fill up the vacuumed gap is regarded as an additional plus sign to establish an uptrend. 3860 and 3920 could be the challenging psychological resistances for short and mid term, respectively. Again, better volume in supporting the movement is equally important as it is still below the average volume.
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Expecting an interesting week when approaching the final trading week of the month and closing of the first quarter of the year. Highly believe all eyes are now on the impact of the reciprocal tariff that kicks in on 2nd April 2025. Anything can happen in either way.
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Let it take the baby steps to move up to close the gap (4504//4577) that vacuumed on 11th March soon. Or at least attempt to make this gap smaller. We'll see.
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Pretty sure it will be range-bounded between 303 and 308 at least for now, unless there is some significant shifts in market sentiment. Still waiting for MA5 crossing MA10, they are still apart by 0.029.
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With a pleasing US market closing last Friday, looks like there is a high probability for it to show some good movements on Monday, after being beaten down to 3670 from 3860 last week. If yes, will this movement sustainable?
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