Morning Analysis on May 6
How was everyone's May Day holiday? The holiday is over, and it’s time to return to work. After spending a few days resting with family, my personal trades have all been closed with profit. The market has dropped from around 960 during the May Day holiday to around 930. Previously, I mentioned looking at 920 for mid to long-term trades. Given the current situation, I personally feel that the recent decline to around 930 can be a point to take profit. On the contrary, I am lightly holding positions for a rebound. Without major news, it’s currently difficult to break below the support level. Accompanying this is the potential for interest rate cuts, making this wave likely to drop first and then rise. Please adjust flexibly according to market trends.
From a technical perspective, it is still a wide range of fluctuations, recently oscillating at high levels, forming multiple long upper and lower shadows, indicating significant divergence. After a series of bearish candles on the daily chart, there was a rebound, but it failed to break through the previous high, indicating that there is still pressure above. The 4-hour MACD is in the negative zone, and the fast and slow lines are diverging downward, indicating the possibility of continued adjustment in the short term. Given this, recent highs and lows are the main focus.
For rebounds around 955-950, take positions.
The target is around 940-935.
For rebounds around 1875-1845, take positions.
The target is around 1790-1760.
How was everyone's May Day holiday? The holiday is over, and it’s time to return to work. After spending a few days resting with family, my personal trades have all been closed with profit. The market has dropped from around 960 during the May Day holiday to around 930. Previously, I mentioned looking at 920 for mid to long-term trades. Given the current situation, I personally feel that the recent decline to around 930 can be a point to take profit. On the contrary, I am lightly holding positions for a rebound. Without major news, it’s currently difficult to break below the support level. Accompanying this is the potential for interest rate cuts, making this wave likely to drop first and then rise. Please adjust flexibly according to market trends.
From a technical perspective, it is still a wide range of fluctuations, recently oscillating at high levels, forming multiple long upper and lower shadows, indicating significant divergence. After a series of bearish candles on the daily chart, there was a rebound, but it failed to break through the previous high, indicating that there is still pressure above. The 4-hour MACD is in the negative zone, and the fast and slow lines are diverging downward, indicating the possibility of continued adjustment in the short term. Given this, recent highs and lows are the main focus.
For rebounds around 955-950, take positions.
The target is around 940-935.
For rebounds around 1875-1845, take positions.
The target is around 1790-1760.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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