A large Rising Wedge pattern has formed on the four-hour chart, from which the price is expected to decline towards the target at 51280.2 points and below. Within this pattern, several bearish candlestick formations have emerged in the range of 51718.3–52370.0, including the Hanging Man, the Shooting Star, and the Dark Cloud Cover.

The Dow Jones Industrial Average failed to consolidate above 51670.00 and is declining within a correction driven by the strengthening of the American dollar after the US Fed kept the interest rate at 3.75% last week.