The price has dropped to a relatively low position within the recent fluctuation range. Technically, this position has short-term support, and the strength of further declines may have temporarily weakened.
Looking at today's market trend, during the noon period, we considered directly reversing to make a short-term long position, betting on a technical rebound at the bottom of the range.
The technical trend has not changed much. The price failed to push higher and has returned to a state of oscillation and decline.
However, from a longer time frame, the range of price fluctuations is becoming narrower, and it is estimated that a direction will emerge early next week. I still have a more optimistic view of an upward breakout, as the impact of news is short-term.
Although the short-term trend is slightly weak, the downside space is not large. In terms of operations, we can maintain a low long mindset and wait for a breakout next week. Over the weekend, it is recommended to focus on short-term trades.
Operation Suggestions
For the first contract, look for long positions around 104500-104000, targeting the 106000-107000 range.
For the second contract, look for long positions around 2510-2490, targeting 2570-2590.
