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The market is moving too fast, with both bullish and bearish trends completing within a single day.
Yesterday's rebound was not strong enough, and the attempt to return to a consolidation range failed, breaking below 2280 and causing the trend to deteriorate completely.
Bearish forces hold an absolute advantage, and this week's numerous news influences have increased the complexity of the movement.
Whether it can avoid making a new low today is crucial; a break below would indicate that the fifteen-minute bullish momentum has completely lost resistance, and a crushing descent down the stairs will play out again.
This morning, a five-minute central pivot was formed, upgrading to 2268-2248; if it does not lose the new low, a short-term bottom will be established.
The key is that it will not be affected by major negative news on the fundamentals.
Although it broke through the long-term range of 2300-2885, the trend must follow certain rules.
News can accelerate the pace of movement but cannot influence long-term changes.
Actually, there isn't much to analyze today; focus on two points:
1. Whether a new low is formed.
2. Whether the downward momentum can be alleviated within the 2268-2248 range of oscillation.