7.22 Morning Market Analysis

Price has pulled back from the highs, MA7 is turning down, and mid-term bullish momentum is weakening; the previous low of 115865.0 is a key support. If it breaks down or further declines, watch for bullish reversal signals.

The Bollinger Bands are opening downwards, and the price is oscillating along the lower band. MA7 crosses below MA30, and the MACD green bars continue; bearish forces dominate, looking down at the Bollinger Bands lower band support of 116393.6 and watching the upper band resistance of 119407.1.

Recommendation to enter at 118000 - 118200, target 117000 - 116800, stop loss above 118500.

Recommendation to enter at 117000 - 117200, target 117800 - 118000, stop loss below 116800.

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