Morning Silk Road on 7.9
Yesterday, the big contract attempted to break through the 109,000 resistance level twice but failed to hold and faced rejection, indicating that a strong resistance has formed in this area. Currently, both sides of the market are engaged in intense competition, entering a phase of consolidation and fluctuation.
From the daily trend perspective, the resistance is showing a gradual downward tendency. The short-term rally failed to break through the key resistance level, which has increased the likelihood of a pullback. Overall, the weak counter-trend in small timeframes does not indicate a trend reversal. Morning trading suggestions should focus on the resistance.
Big contract counter-trend around 109,000-109,800, looking towards 107,800-107,000
Second contract counter-trend around 2,630-2,670, looking towards 2,570-2,530
