Review of yesterday's view:
Today's focus:
Daily level:
Daily level engulfing yesterday and the day before
However, a long upper shadow top candlestick was not formed
Indicates that the overall decline range is merely a healthy pullback after an increase
The pullback magnitude is normal, exceeding 100% of the previous starting point's retracement
After today's daily opening, prices are moving upward, with selling pressure gradually being consumed
Market sentiment is gradually shifting from yesterday's strong bearish sentiment to a stable bullish outlook
Four-hour level:
The bottom of the four-hour level showed a strong bearish candle indicating resistance in the upward movement
Represents a significant game between selling and buying pressure at that price
This means that after a significant amount of buying, a large amount of selling occurs at the resistance level again
After the last significant volume decline, buying pressure forms a rebound at the bottom
Bottom prices are gradually attracting buying pressure, and the decline is gradually being hindered
One-hour level:
Breakthrough of the top arc after one-hour level peak
Completed the first segment of equal-distance decline from the neck line position 95700 to 91500
Yesterday's overall decline has completed the first segment of equal-distance increase
Prices formed severe overselling after retracing to around 90800
Then quickly forms a strong rebound, likely to enter a new rising phase after being oversold
This means the end of the daily level pullback and the small level bearish trend
Personally, I believe this segment of the downward trend has likely ended
