Currently, the stability of $110,000 is not much different from last week's expectations. Even if it briefly breaks below, it will quickly return above $110,000, indicating that many investors still see this level as a buying opportunity.
Moreover, from the support structure perspective, compared to above $110,000, the range of $102,000 to $108,000 has become a very solid support level. Unless there is new negative information, and not just concerns about a rate cut in September or a recession in the U.S., but rather more detrimental or confirmed information, I believe it will not be easily broken.
Currently, U.S. stocks have not continued to decline; instead, there has been a slight rebound, which indicates that investors are not entering a very pessimistic state. The core PCE data will be released on Friday, and this data is at least within market expectations, which will help boost investor sentiment.
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