As predicted we broke downwards from the middle declining trendline as we are now seeing support at the long-term trend line (red line).
If we break below 8800 for 4+hrs we don't have any support until 8100 (low support), with greater support at 7500.
Sell Entry: 8700
Target: 8150
Stop Loss: 9500
If we break below 8800 for 4+hrs we don't have any support until 8100 (low support), with greater support at 7500.
Sell Entry: 8700
Target: 8150
Stop Loss: 9500
That's why we wait for confirmation of 4hrs+ under 8800. I would expect a bit more of a battle from the bulls to keep above 9000, but if they can't do it, then a quick drop from 8700 to 8150 is likely.