Market Outlook (June 7th - 11th)

Current Trend : Downtrend (In rebound)

Support 1 : 1290
Support 2 : 1240

Resistance 1 : 1304
Resistance 2 : 1324

Observation : Market is currently in a rebound from a downtrend since the last few weeks. However, a 'Bullish Crossover' was formed on the last trading day in the MACD, indicating that the price might go upward. Thus, there is a probability that the market will continue to rebound up until the first resistance level, which is also the 20-day and 100-day moving average. If the market break through this resistance, the stock may go back to an uptrend.

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