2025-05-17 Daily Wealth Code:
Let’s first look at the daily chart. There have been 7 consecutive attempts to break through the 105000 high, but none have been successful. The 5-day moving average has formed an M-top, and the trading volume has continuously shrunk. Currently, the MACD is also forming; a bearish crossover below the waterline can be said to establish a three-frequency resonance bearish trend.
On the 4-hour level, it is still maintaining a range-bound oscillation, with the oscillation range around 104790 to 101700.
The 30-minute short-term also shows an M-top, and a bearish trend has formed. Any rebound presents an opportunity to enter the market.
05-17 Wealth Code:
You can enter around 103000.
Any rebound above 103000 is an opportunity to enter.
First target around 101780.
