1.14 Pancake Analysis
Currently, the daily level is under pressure from the upper band, and the 4-hour level is also running close to the upper band. If it continues to consolidate for a long time, I will look for another wave of decline next.
Although the current structure is not clear, it is still difficult to determine whether it is a V-shaped reversal or a continuation of the bearish structure. However, the current structure leans towards being pressured by the 95k-96k range. If it continues to operate at this high level for a long time, we can expect another wave of decline.
The current market trend still needs to be observed, but in the short term, it leans towards a decline. I recommend staying in cash and observing; the situation will have results at the latest tomorrow when the CPI is released.
Aggressive traders can enter at the current price, with a stop-loss set above the 96k resistance.
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