MASI: The Market Tests a Major Threshold at 18,200 Points

The current decline extends the correction that began in early November, after the market failed to sustain its rebound beyond the 19,400/19,500 points. Since then, the index has been moving in a more pronounced bearish bias, now below its three main moving averages (20, 50, and 100 days). Dynamically, the 20-day moving average continues to decline, while the 50-day moving average has crossed below the 100-day moving average, confirming the gradual exhaustion of the summer's bullish trend. Selling pressure has been evident over the past few sessions, as indicated by the increasingly elongated downward candles in recent days. The MASI is now approaching its key support level around 18,200 points, a zone that has been tested multiple times since October and serves as the last line of defense before a potential drop to 17,600 points in the event of a breakdown. Regarding indicators, the RSI is nearing the oversold zone but has not yet triggered a reversal signal. Stabilization would only be possible above 19,000 points, while a genuine bullish signal would only emerge after a confirmed breakout above 19,400/19,500 points. Key levels to watch include: Major Support: 18,200/18,100 points. This is the current defense line. A breakdown here would pave the way for a move towards the 17,600/17,500 points zone. Resistances: 19,000 followed by 19,400/19,500 points. As long as the index remains below 19,000, selling pressure will persist in the short term. A return above 19,400/19,500 would constitute the first credible signal of recovery.