Wednesday was the second pullback-up consolidation day following a large trending down day on Monday.
The market trends to resume its trend, currently downtrend on the daily chart, on the third or forth day after a large trending day, and Thursday is the third day, thus there is a good possibility that the downtrend could resume on Thursday.
Key intraday price level to watch for on Thursday will be 7000.
-- Trading below 7000 is bearish, with the next support at 6860. A clear break below 6860 could trigger a large and fast decline.
-- Trading above 7000 is bullish, with key resistance at 7100-7125 price zone.
