The big pie has seen three consecutive daily declines, and the weekly MACD has formed a death cross, with hopes of breaking through the 110,000 barrier!
First: In terms of trend, since last week, the focus has been on the 108 level, with multiple rebounds at the 112 level. On Friday, due to the dovish stance of old Powell, we experienced a significant rebound, but it did not continue. This morning, there was a massive drop, once again looking towards the 110,000 barrier!
Second: Currently, the main capital in the persimmon market is focused on the second pie.
Third: Numerous favorable factors cannot lift the big pie; instead, there has been continuous selling, and even the whispers of interest rate cuts cannot turn the tide. On Friday, this rebound did not even touch 118 and struggled to hold above 116.
The monthly closing is very likely to break below the 110,000 barrier, possibly even earlier than I expected. Currently, I am not bullish and am looking for a rebound to short!
