Monthly chart with a Fibonacci fan line shows the downtrend and the importance of the current level. Take into consideration the monthly average and it's pretty easy to explain the markets oscilations of late and the increased volatility.
I see a short trade setup with a stop of 1105 or the monthly high.
A long setup using a small position size with the stop being just below the 200 SMA 1034. This is a bounce play and profits should be taken quickly.
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