After months of dithering, the index has confirmed the target 1,200, or thereabouts. But there is no guarantee of a bottom at that level. We could see the index fall to any one of those levels, before bottoming.
Grey support coincides with the arithmetic target.
We should now expect 1,200, at least. Support in grey could precipitate a rebound. But I doubt that the target of 1,200 will be interrupted. Long term support on the black broken line at around 1,260. Follow the link below.