PCOMP breaking 20-day SMA line support

Our index went down by almost 3% today. It broke the 50% Fibonacci Retracement level and the 20-day SMA line which are all support lines. The red Marubozu candelstick may suggest more dips to go? Let us see how the 61.8% Fibonacci Retracement level will support our index. RSI or Relative Strength Index is at 41. Maybe it needs to be oversold before a bounce will happen.

Caveat!

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