YM has touched the 1/3 retracement level at 11909 and rebounded, last traded 11970 (up +70 pts).
If market is bearish biased, breaking down below 11909 and then further dip to test 11710 is possible!
Before the bigger picture come into play, Short term recovery is expected.
Check 1 hour chart, butterfly pattern has formed and reckon market to return to rooftop line 12060.
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