In early Asian trading, the market opened lower and continued to decline, before stabilizing around 4050.
The overall market trend remains bearish, with no immediate signs of stabilization or reversal; the short-term outlook is characterized by weak, oscillating downward movement. Caution is advised regarding a continued pullback, with the 4130 area serving as a key short-term resistance level to watch.
The 4-hour chart shows a lower opening and weakening trend. After the opening, the rebound was weak and it continued to be under pressure below the short-term moving averages. The moving averages formed layers of resistance, and the rebounds were repeatedly blocked and fell back. The overall bearish trend is obvious. Technical indicators show strengthening bearish momentum within a weak range, with no clear signs of stabilization following the recent drop; the Bollinger Bands are widening downwards, and the price is tracking along the lower band.
In the short term, pay attention to the resistance of the moving average above and be wary of further declines. The recommended strategy is to short at 4080-4100, with a target of 4020-4000.
The overall market trend remains bearish, with no immediate signs of stabilization or reversal; the short-term outlook is characterized by weak, oscillating downward movement. Caution is advised regarding a continued pullback, with the 4130 area serving as a key short-term resistance level to watch.
The 4-hour chart shows a lower opening and weakening trend. After the opening, the rebound was weak and it continued to be under pressure below the short-term moving averages. The moving averages formed layers of resistance, and the rebounds were repeatedly blocked and fell back. The overall bearish trend is obvious. Technical indicators show strengthening bearish momentum within a weak range, with no clear signs of stabilization following the recent drop; the Bollinger Bands are widening downwards, and the price is tracking along the lower band.
In the short term, pay attention to the resistance of the moving average above and be wary of further declines. The recommended strategy is to short at 4080-4100, with a target of 4020-4000.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.