This market is backing off somewhat but for now chances are this is a search for a higher low.
A candidate is the 7600/7500 area; here the Bollinger Bands midline, A standard Fibonacci level (38.2%) and the former downward sloping line meet. One could see better support there and a try to bounce.
Also note the latest combination of candles looks like a bull-flag. Confirmation of this pattern (breaking above it) sees an 11000 target.
Below 7500 weakness could extend further toward 7030 which is still a higher low candidate.
A candidate is the 7600/7500 area; here the Bollinger Bands midline, A standard Fibonacci level (38.2%) and the former downward sloping line meet. One could see better support there and a try to bounce.
Also note the latest combination of candles looks like a bull-flag. Confirmation of this pattern (breaking above it) sees an 11000 target.
Below 7500 weakness could extend further toward 7030 which is still a higher low candidate.