Evening Silk Road on June 30
The inverted V pattern that appeared yesterday has shown up again today. Every time the price rises above 108000, it retraces back to the starting point of the upward movement. After the U.S. stock market closed in the morning, the big pancake continued to rise significantly, with the aunt rising nearly a hundred points. The early morning retracement of Youmi confirmed the Silk Road, resulting in exiting the position. The overall trend of Bai Pan shows a downward trend.
Currently, from the four-hour chart, we can see that the MACD is below the level, and the histogram shows a bearish arrangement, indicating that the short-term retracement is still ongoing, and the market is under significant pressure. In the daily chart, the MACD is still bullish, but the RSI and KDJ have not moved upward. If the support below holds, there is hope for a range-bound oscillation; if it does not hold, the price may continue to extend downward.
Youmi believes that the current trading volume is not large and there are no favorable news to drive it, resulting in the bulls being unable to push up with volume. The upper resistance at 109300 remains strong, while the bottom at 106800 is supported, so the market is likely to experience a wave of oscillation.
Therefore, in the short term, both bulls and bears have opportunities, so be careful to control the entry and exit points. In the medium to long term, it is advised to wait for the significant fluctuations this week.
In the evening, Youmi continues to long at low levels.
Big pancake
107000-107300, looking up at 108000-108500
Aunt
2420-2440, looking up at 2480-2500
