6.24 Midday Silk Road

Driven by geopolitical factors, there has been significant volatility recently. During the phase of heightened risk aversion triggered by conflict, it has come under downward pressure; as the situation eases 🍊 and ceasefire expectations materialize, risk appetite in the market has rebounded strongly, reaching a peak of 106,000, entering a previously dense trading area.

From a technical analysis perspective, if the major asset can form effective consolidation around 105,000 and maintain the 100,000 integer support level, it is expected to further challenge the previous high resistance level of 109,000. Conversely, if it cannot stabilize and breaks through the important support level of 100,000, there may be a short-term opening to the downside, with a target to watch around 95,000, and there is even the possibility of further decline. The secondary asset's trend is relatively weak, currently rebounding to the upper boundary area of 2,400 of the previous range, facing strong resistance. Judging from the market situation, the secondary asset is still in a downward channel and has not yet formed a reversal signal. Only an effective breakthrough of the key resistance level at 2,570, accompanied by a significant increase in trading volume, can confirm a trend change from bearish to bullish, initiating a new upward cycle.

The major asset's rebound is around 105300-105800, looking towards 103800-103000. If it breaks through 103000, it may continue to decline.

The secondary asset's rebound is around 2420-2450, looking towards 2350-2310.