In our analysis yesterday, we mentioned that the market was about to change direction again, and then in the evening, there was a surge in the market. Therefore, we believe that the outcome between bulls and bears has been determined. We also mentioned a tendency to move upwards, and with last night's surge, our prediction was accurately hit. With several predictions being correct, we are even more confident that the outcome between bulls and bears has been determined.
From the MACD perspective, the energy bars are currently showing a decline, but there has been no closing yet, and the final shape is not confirmed. Yesterday, it was only at the end that a bullish candle was formed, so we will continue to monitor it. However, it is certain that we see the slow line has crossed above the zero axis, which is good for the bulls, but we need to be cautious about a potential drop if it cannot hold above the zero axis.
From the CCI perspective, with yesterday's bullish close, the CCI has reached around 50, which is a neutral zone where the forces of bulls and bears are balanced, and it is in a region that can go either up or down, so we need to continue to pay attention to the dynamics.
From the OBV perspective, yesterday we emphasized to watch whether the slow line would flatten out, and today we see that the slow line has indeed flattened, indicating that the market is about to choose a direction. When it flattens, it can either go up or continue down. However, ending the downward trend is good news for the bulls.
From the KDJ perspective, it is currently in the overbought area, and the market is in a strong zone. We will observe when a death cross can form.
From the MFI and RSI perspectives, the MFI is still in the overbought area, while the RSI has returned to the neutral area due to the current bearish candle. Overall, it still leans towards the bulls.
From the moving average perspective, the 60-day line has provided support for the market for five consecutive days, and we believe this support is effective. At the same time, we previously emphasized watching when the 30-day line would flatten, and now we see the phenomenon of the 30-day line flattening, indicating that the market is about to choose a direction.
From the Bollinger Bands perspective, we have been concerned about the Bollinger Bands in the past few days. With yesterday's surge, the shape has slightly improved, and the suspicion of a false breakout is being alleviated. However, to completely eliminate it, we still need a bullish candle to open up and synchronize the upper and lower bands completely. But at least the false breakout shape has been alleviated, which is good for the bulls.
In summary: Yesterday we emphasized that a market change was imminent, and with last night's surge, it met the requirements for a market change that we mentioned. At the same time, the moving averages and Bollinger Bands that had not performed well before now seem to be improving, so the possibility of continued upward movement in the future is greater. Due to the interest rate decision at 2 AM tonight, there will inevitably be fluctuations, and both bulls and bears should set proper stop-losses. The support below is seen at 115100-114000, and the resistance above is seen at 117000-119000.
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