【Price Trend Analysis】
- K-line Pattern:
The daily level shows that the recent price quickly dropped from 115232.29 to 111998.8, forming a series of bearish candles before a slight rebound, currently in a consolidation phase.
On the 4-hour level, the price plummeted near 112882.19 but gradually stabilized and attempted to break upwards, yet overall it has not escaped the downward trend.
Technical Indicators:
MACD: The daily MACD remains below the zero line, with the momentum bars shortening, indicating a weakening of bearish strength; on the 4-hour level, both DIF and DEA are negative, and DIF has slightly risen, suggesting potential short-term rebound signs.
RSI: The daily RSI value is 41.02, close to the oversold zone but not yet entered, indicating weak market sentiment; the 4-hour RSI has rebounded from a low to 41.02, showing an increase in short-term buying pressure.
EMA: The price is currently above EMA7 (112366.10) but still below EMA30 (113841.27) and EMA120 (114176.22), indicating limited strength for a short-term rebound, with the medium to long-term trend still bearish.
Trading Volume:
The daily trading volume has significantly increased, especially with the sharp drop on September 22 accompanied by high volume (20782), followed by a gradual decline in volume, indicating a cautious market sentiment.
The trading volume on the 4-hour cycle has fluctuated greatly, with the recent K-line volumes relatively decreasing, showing that both bulls and bears are temporarily on the sidelines.
Wishing you successful trading!
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