Friday was the second consecutive rally days, with the close near the high of the day. Where it opens in relation to its key level on Monday will determine whether we will get a morning rally, or a morning decline.
Key level for Monday is 2980, with first resistance at 3000-3005, and support at 2950.
-- Above 2950 implies the trend that started from Thursday low is still in progress, targeting the next resistance 3000-3005.
-- Below 2980 in indication the market is going to pullback down to support first before rallying back up.
The current dominant trend is Risk-on trade, Sell safe haven assets like gold and bond, and Buy risky asset like equity.
