Is a high-level squeeze rally reappearing?
In the afternoon, the market showed a fluctuating upward trend, experiencing a prolonged period of adjustment before successfully breaking through previous highs and heading towards the short-term target of 103500. The secondary market also exhibited synchronous upward movement, though the pace of ascent has slowed.
Overall, after breaking through the upper track on the hourly chart, the pullback has not been significant. Since the upper track on the hourly chart is being pressured by the mid-track of the four-hour chart, there is currently no strong desire for a sharp rally after the major asset's upward breakout. The market is maintaining a high-level fluctuating adjustment, and the 103500 level still shows strong resistance in the short term.
At the same time, the technical indicators on the hourly chart are generally trending upwards, indicating a strong short-term upward trend. If the technical indicators on the four-hour chart can be reversed, a strong comeback is expected. In the short term, we will first look at the situation of breaking through 103500, and after a successful breakout, we will target the 105000 level; the secondary market is also looking towards 2550 above.
