Support: 7100 / 7000
Resistance: 7400


The local bourse shed -46.68 points or 0.64% yesterday to end the session at 7,258.11. This, after it briefly traded upwards of the 7,400.00 resistance intra-day Monday.

If anything, this only cements the 7.4k level as a strong resistance, since the index has yet to fully sustain a position above this.

Indicators are mixed, hinting at continued consolidation — but with a slight downward bias, given its MACD signal lines.

Nonetheless, it is likely that the 7,100.00 support will hold for the next few days.

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