The adjustment of the pancake is nearing its end, and it is expected to rise again this week.
Although the weekly chart did not form a bullish doji, the 5-week moving average is around 114182, indicating that support around 114,000 is very strong.
From a technical perspective, the weekly chart has not shown a peak; currently, it is the 5th week of an upward trend, and the trend remains.
Looking at the daily chart, although the MACD shows a death cross trend, it is more likely to be a false signal— as long as there is a subsequent rise, the candlestick pattern can improve, and the 20-day moving average is around 114372, providing strong support.
Therefore, the conclusion is very clear: the adjustment is about to end, and even if there is a decline, it is highly likely to be the last false signal, with support holding around 114,000, and this week is expected to continue to reach new highs.
