Analysis and Trading Ideas for July 23 Evening from Auntie Big Cake
From the current market perspective, the daily chart shows that the recent price has retreated from a high position, forming a large bearish candle, indicating strong bearish forces. On the hourly chart, a rebound has occurred around 3619, but overall it is still in a downward trend, with highs gradually decreasing and lows continuously refreshing.
In the MACD hourly chart, both DIF and DEA are negative and continuously diverging downwards, with the momentum bars showing bearish columns. The daily MACD is also in a death cross state, further confirming a weak pattern. The RSI on the hourly chart is at 38.45, not yet in the oversold zone but close, indicating a weak market sentiment; the daily RSI is at 43.03, showing a tug-of-war between bulls and bears, but bears have a slight advantage. The hourly EMA7, 30, and 120 are all showing a bearish arrangement, and the current price of 3619 has broken below all moving averages, with EMA7 exerting pressure on the price; the daily EMA7 and EMA30 have crossed downwards, and EMA120 is far from the current price. Looking at the four-hour chart, the short-term upward structure has not been completely broken, so consider short-term bullish positions.
Auntie: Long at 3580-3550 Target 3620-3650
Big Cake: Long at 117500-117000 Target around 119500