In this world, although there is much injustice and greed, there are still things emitting brightness, and these beautiful things are worth striving for.
Overnight, the market first rose and then fell. After reaching the 26739 level, it faced pressure and retraced for a probe. In today's Asian market session, the market continued to probe lower, reaching a low point of 25965. Just at the beginning of this week, there has been a fluctuation of nearly 800 points. This week is also the last week of the month, and the volatility will be much stronger than before. It remains to be seen how much you can grasp.
From a technical perspective, looking at the daily chart, since the last round of news was announced, the price first probed lower and then oscillated for repair. Subsequently, there were two more probes in the early hours of Monday and during the opening phase. After multiple probes, both the volume and moving averages have undergone certain changes. The bullish volume is currently shrinking and is about to be completed. The moving averages have shown a converging posture, but these are just the necessary repairs. The price channel still maintains a flat upward trend, and the lower support points are constantly rising. There is not much room for a subsequent pullback, and approaching the support also means that there is an opportunity for a short-term rebound!
Short-term trading suggestion: Long in the 25400-25800 range, with a target of the 26800-27400 range.
Looking at the short-term chart, after a narrow test of resistance, the price did not continue to rise. The bullish volume did not increase to provide support, leading to pressure on the price and a retracement for repair, while also driving a second increase in bearish volume. However, the downward space of the price channel has not completely opened up. There is not much effective space for the price to move. Both the short-term and small time frames require some repair, so my personal suggestion for intraday trading is to go long first and then short.
Trading suggestion: Go long directly in the 25800-26000 range, with a target of the 26500-26800 range. If it does not break 26800, you can go short directly.
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