According to the observations in the last week, the market has frequently tested the support level near 29500~29700, and will rebound every time it approaches this position. Although the rebound is not strong enough, the current focus is to observe the strength of this rebound. If it cannot effectively stand on 30450, then it is possible. Will extend to the 4-hour level of decline
For short-term traders, you need to pay attention to the rapid changes in the market. The article can only predict the market changes at the time of publication, so it is for reference only.
On the 1-hour level, the short-term has formed a complete upper and lower structure, which means that the entire 4-hour level decline may have ended. Next, there may be a 4-hour level rebound. The target range is near 31000 or 31500, as shown in red in the figure. As shown by the arrow
However, if the short-term rebound of the market fails to break through 30450, then it is very likely that the market will fluctuate in the range of 29630~30450 and form a 1-hour level center, and then continue to extend downward to the 4-hour level as shown by the green arrow in the figure. ,
Therefore, for short-term long traders, they should pay close attention to the strength of the rebound. Once the strength is not strong enough and cannot rise for a long time, they need to close their positions in advance.
There is a callback at the 15-minute level. As long as the callback does not fall below 29730, it is very likely that there will be a third rise at the 15-minute level. You need to pay attention to the strength of the third rise. Ether usually follows the trend of the big pie.
