The weekly chart shows a bullish engulfing pattern, with trading volume remaining roughly the same as last week. The weekly MA30 line is still in a downtrend, and the MACD is entangled below the zero axis, showing a weak increase in bullish momentum. The weekly level can still push up a bit; currently, the short-term resistance is around 168, which is also near the upper edge of the red box. When it reaches this point, there will be a pullback. If strong, this position may be broken directly, with prices aiming for the 185-190 area, followed by another pullback. Those who bought spot or contract long positions near the lower edge of the red box can wait until the price rises to around 180 to reduce their positions. Prices won't just rise without any pullbacks; there will still be opportunities to enter.
The daily chart shows a small bullish candle, with trading volume slightly lower than the previous day but basically flat. The daily MA30 line has turned from a downtrend to a gradually flattening state, and the MACD is showing an increase in bullish momentum near the zero axis.
The price has already risen above the MA30 line. Today is the second day of staying above the MA30 line. If it continues for three days, we can preliminarily consider it a reversal of the daily trend. We will wait for the MA30 line to turn, which can confirm further. Then, a wave of upward movement in the daily trend can occur.
The resistance level for upward movement is the upper edge of the red box (around 165). If it is strong, it can reach around 185 before declining again.
Just like the weekly trend, even if the daily trend shifts from a downtrend to an uptrend, it cannot rise without any pullbacks. It will still go through a large range of fluctuations (110-180), and there will still be opportunities to enter at lower prices.
Daily resistance levels are 165-185-200, support levels are 145-132-120-110.
