Technically, the index futures is likely break down from the sideways range shown on the chart above. If this event materialize, Selling pressure will likely dominant the market as the index have breakdown from the range.
Volume will serve as a confirmation indicator if the market does correct from here. A good example will be yesterday volume spike during the market retracement, which is noticeably during the late afternoon session.
For today, immediate support level is located around 1,455 follow by 1,445 while resistance is pegged at 1,483 follow by 1,501 level.
HAPPY (BEAR) HUNTING
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