Daily level:
The daily level closed out the top blocked bearish engulfing Yin K for the first time today.
First bearish top signal after 7 consecutive days of gains
Currently, buying sentiment is gradually decreasing, while selling sentiment is gradually increasing
The panic among market leaders and retail investors at high levels continues to grow
As time goes by, this will most likely become a new daily level top
Therefore, I think the current daily price is a potential top.
Four-hour level:
After the price reached 93300, the first weak pullback occurred
A strong rebound followed by a weak pullback
However, last night's Federal Reserve meeting caused a strong decline in US stocks
Market sentiment then began to reverse, triggering a strong and rapid decline
But the rebound after the decline is getting weaker and weaker
Here we have a standard high-level short-side cannon K-line structure.
The probability of further market decline increases
One hour level:
After falling to the lowest point around 86650 at 6 am
A new pressure level is formed around 88500
A new downward channel has emerged
And the rebound after the decline is very weak
The market has turned from a strong bullish sentiment to a bearish one
I personally think there is a potential top here.
But we still need to pay attention to the support situation near the bottom of 86200
