Analysis of the market for Big Pancake Auntie on the morning of April 29th, is Duo Tou out of options? #
After experiencing a day of dawn and dusk, Monday is about to come to an end. After a period of horizontal adjustment in the early morning, the Big Pancake saw a pullback to the intraday low of 92700 in the morning, followed by a continuous upward fluctuation, reaching a high of 95578 in the evening. After breaking through the resistance level of 95000, it did not stay long but quickly pulled back to around 93500, and is currently still testing the support at 93500. Auntie's overall trend during the day is similar to that of the Big Pancake, with two drops to the low point of 1750 in the morning and evening, making the rise and fall structure more apparent.
At present, the evening pullback still has room for movement, and the continuous increase in volume is a strong test for the support level below. On the four-hour line, a solid large bearish candle in the evening has basically engulfed the intraday gains, and the reduction in volume has not been significant, indicating substantial downward pressure, but the support at around 93500 is still performing adequately.
On the hourly chart, the downward trend is more apparent, with the volume accelerating downward, and the lower boundary continuing to decline, showing no obvious signs of stopping the drop. The technical indicators are all pointing downward, giving Duo Tou a strong blow. Is Duo Tou out of options? Not necessarily, as the increase in volume also provides better room for subsequent upward movement. In the short term, after giving some space for the volume, it can go up more, and the pullback for the volume is limited for capture.
In the early morning, the entry point for the Big Pancake long position is moved down to around 93000, targeting 95000. Auntie synchronously references a long position near 1740, targeting 1800.
