7.20 Evening Large Cake Market Analysis

The price is fluctuating around 118122.9.

After yesterday's pullback, the bulls have not yet regained strong momentum, and the price is far from the previous high. There is still selling pressure above, and although MA7 and MA30 are in a bullish arrangement, the price has not stabilized above the moving averages, with upward momentum converging.

The Bollinger Bands are narrowing, and the price is hovering near the middle track, with a tug-of-war between bulls and bears; the MACD momentum is weak near the zero axis, and there is a high probability of continued fluctuations in the short term.

It is recommended to enter a long position at 117500 - 117700, with a target of 118500; if it breaks, look for 119000, with a stop loss below 117200.

It is recommended to enter a short position at 118300 - 118500, with a target of 117800, with a stop loss above 118800.

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