Daily level:
After five consecutive daily lines closing bullish.
Reached a new high this morning, closing with a bullish line star.
Indicates that after gradually increasing volume and reaching a new high of 99588, it encounters selling pressure.
Today's daily line is bearish, but the decline is limited. The daily line on Saturday and Sunday will likely focus on adjustment.
The current market sentiment remains strongly bullish, but at this position, a pullback will form on a smaller timeframe.
Therefore, pay close attention to whether smaller timeframes will provide better buying signals.
Four-hour level:
It is worth noting this candlestick.
This bearish line is a strong signal after the decline is blocked.
Encountering a strong rebound signal candlestick.
This means that there is a large amount of selling pressure near the lowest point of 97100.
After the rebound, a bullish line star is formed, with the previous two 4-hour lines closing with adjustment bearish candlesticks.
Proving that there is a demand for pullback at high levels, but the decline is severely blocked.
Buying pressure is still significantly stronger than selling pressure.
Hourly level:
The previous mentioned position of the upward triangle flagpole: from 85200 to 92000.
The first target of equal distance rise has been completed: from 92000 to 98800.
Currently forming a new narrow adjustment on the hourly level.
And forming a continuation triangle after the upward triangle.
Currently in the early stage of the pattern, so the target point cannot be calculated yet.
But what is certain is that the swing low is continuously rising.
And forming a new bullish arrangement.
Personally, I think there is a high probability of a continuation rise after the upward triangle here.
That is to say, I believe this is not the peak, and I think it will continue to rise.
Today is November 23rd, with prices around 98700.
