8.4 Monday Morning Thoughts, A Rebound is Not a Reversal, Short Positions in the Morning

Time flies, the weekend is over, and over the course of two days, the market has generally moved in a V-shaped pattern. Saturday continued to decline weakly, and on Sunday it rebounded from the bottom, currently fluctuating above 114000.

On the 4-hour chart, the Bollinger Bands are narrowing downwards. The continuous small upward movements in the short term have caused the price to break through the middle track, but the momentum is limited, and there are no reversal signals in the short term. On the hourly chart, the candlesticks alternate between bullish and bearish, and are currently being suppressed by the upper track. Though it seems to be strongly upward in the short term, there are many elements of a potential trap for buyers. In the future, if the price does not break above 115000, consider shorting around this area.

Morning suggestion: Short positions near 114500, 115000, looking for a target of 113000-112000.