Last post on SSEC labelled this decline as the last leg of a zig-zag correction, with one more wave up to come. While we wait for that possibility to present itself, a very short-term rebound should be on the cards. One of the support levels identified in that post was 2520, and price just reached that area.
Note the +ve divergence(green) on the RSI, with daily & weekly oversold conditions. A break out of the narrow channel will confirm the rebound. Immediate resistance in the 2640-2700 area. Solid resistance above that is around 2900.
The declining volume on this very sharp decline in price, lends support to my medium-term view calling for one more wave up.
All the best!
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