The 6,600 mark continued to be a key level for the market, now acting as a resistance.

For the second straight week, the market closed below its 200-day MA.

ADX is currently at 35.7, signaling that the bearish trend has shown strength.

Recommendation

We reiterate our call to wait for a proper reversal before entering. Accumulate should the market break above 6,900 with significant volume since that signals a possible reversal.

Next support levels are 6,400 and 6,180.

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