For the last two weeks the index has been in consolidation mode, moving in a range closing up one day and down next, it must have frustrated the traders who were either long or short not letting either side be a winner. But it is the pattern that most markets follow a sharp move up or down, followed by a period of consolidation before the next move up or down. Today we saw exactly that move down after finding support at that level several times but once it broke it fiercely moved down, now we might see a move towards the 50 DMA at 4420.
