Erbing Evening Thoughts:
Talking through the chart: The wedge pattern of Erbing has been broken, and it is now attempting to reclaim the internal operation of the wedge. If successful in reclaiming the internal operation of the wedge, Erbing is expected to challenge the resistance level of 3735 again.
If it can hold above the resistance of 3735, we will look at the Fibonacci 1:1 upward target position of 3815, and we might even see 3900 for Erbing again.
Erbing should break above 3676 with volume for a long position on the right side, and below 3659 with volume for a short position on the right side. Pay attention to changes in volume. Set stop-loss orders.
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On the hourly level, if it can hold above 3709, we look up to 3737-3773-3815, but the premise is that it must hold above 3709 to continue looking upwards.
On the 4-hour level, if it breaks below 3608, we look down to 3576-3528. As long as Erbing does not break the low point from 3 points, everything is within a controllable range.
Continuing to look at the chart: On the daily level, Erbing is indeed much stronger than Dabing, and Erbing has almost recovered the losses from the weekend.
It must be said that this counterfeit leader is quite fierce, but in the end, Erbing still has to look at Dabing's face. If Dabing does not want to continue rising, Erbing cannot stand alone. Meeting adjourned.
