The new high at 11W is just around the corner, and it could break through this level at any time!
After retracing to 104100 last night, the bulls immediately surged, pushing back fiercely to a high of 107292! However, the pressure was too great, and ultimately it fell back a bit.
This morning, it rebounded again, continuing to challenge the 107000 level! From the daily chart, the candlestick pattern shows strong support below, and the overall structure is still very strong.
Although the upward momentum has slowed and entered an adjustment phase, the wide fluctuations at the four-hour level are just a common adjustment wave, and the market is still digesting the pressure. After the adjustment, there is still great potential for upward movement.
Therefore, it is recommended to enter long positions in batches around 106000, targeting the major threshold of 110000! The overall direction is bullish, and the bulls are still brewing for a breakout.
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