7.22 Aunt Tai Evening Market Insights
Current price is around 3698.30, the bearish trend continues, pay attention to the adjustment rhythm in the evening.
After rebounding from the low of 3525.72, the price encountered resistance and fell back. MA7 has turned down, and the mid-term bullish momentum is weakening; the previous high of 3857.82 presents significant resistance. If it remains sluggish, it may test the lower support of the Bollinger Bands.
The Bollinger Bands are opening downward, with the price oscillating below the middle band. MA7 and MA30 have formed a death cross, and the MACD green bars are shortening, but bears still dominate; look down at the lower Bollinger Band support at 3639.16 and watch the upper band resistance at 3799.78.
Trading Suggestions:
Short: Resistances at 3720 - 3740 during the rebound, light short position, target 3650 - 3640, stop loss above 3750.
Long: Stabilize on pullback at 3650 - 3660, light long position, target 3690 - 3700, stop loss below 3630.
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