Evening of August 27
The day session fluctuated and dipped below 111000 for adjustment, with the daily level of the main index basically retracting most of yesterday's gains, showing relative weakness. The 50% Fibonacci level on the 4-hour chart was broken, indicating that the main index is facing deeper retracement. In the evening, attention should be paid to the support at the round number of 110000.
The situation is severely diverging from the main index, showing relative strength. The day session saw multiple strong surges and retreats, currently stabilizing above 4550. As the technical indicators have been repaired, the situation is gradually stabilizing around the 4550 level. As long as there are no significant changes in the evening, I personally expect a continued push towards the resistance near 4700.
The main index can be traded around: 110800-110200, target 111600-112800.
The situation can be traded around: 4570-4530, target 4600-4670.
