Headline
Market remains in a broad downward phase with early signs of buyer interest, but overall control is still with sellers.
The Data
The larger market direction is pointing lower, showing that prices have been making generally lower highs and lower lows. This tells us that the dominant force is still selling pressure, even if short-term bounces appear.
Recent money movement shows some buying activity coming into the market, which suggests that demand is trying to step in. However, this buying is not strong enough yet to reverse the bigger picture.
Price is currently trading below the average price where most recent trading has taken place. This usually means sellers are comfortable selling at current levels, and buyers are not yet aggressive enough to push price back above that balance area.
There is a negative disagreement between price and momentum, meaning price recently moved higher while underlying strength did not follow. This often warns that upward moves may be weak and vulnerable to another drop.
Trading activity is average, not showing panic selling or strong accumulation. This suggests the market is waiting for a clear catalyst or decision point.
Trend strength is moderate, which means the downward direction is established but not extremely aggressive. This leaves room for short-term sideways movement or small relief rallies within the overall decline.
Key Levels
The nearest resistance is around the recent price area where selling previously pushed the market down. This zone is likely to attract sellers again.
Major support lies at the recent lows, where buyers previously stepped in. A break below this area could accelerate the downward move.
Weekly Outlook
For the coming week, the market is likely to stay under pressure unless buyers can reclaim and hold above the recent balance price area. Short-term bounces are possible, but they are more likely to be corrective rather than the start of a new upward trend. The risk remains tilted to the downside.
Verdict
Wait
The market is still in a downward phase, and while buying interest is appearing, it is not strong or confirmed enough to justify buying. Selling after a bounce or waiting for clearer strength from buyers is the more cautious approach right now.