Market Analysis:
On the 4-hour chart, the current central range is 69500–68830. Although the downward divergence led to a pullback, the lows continue to decline and have failed to form an effective high, thus the central focus remains biased downwards.
The possible future movements are divided into two scenarios:
If it breaks 69500, the market may further rise and test the 71300 area, which is a low probability event. Attention should be paid to the continuation of the upward trend on the 30-minute chart. If it breaks, it is expected to continue up to the 4-hour level.
If it is blocked within the range of 68830–69500, and if the divergence phenomenon is digested, the market may continue to decline, targeting a test of 65900, which has a higher probability of occurring.
