December 20th Pancake Morning Analysis
It has dropped a bit over the past two days, and the risk-averse sentiment has eased a little. Let's see if we can rebound and make some profit.
First, let's look at the daily chart:
The bullish candle on December 11th is quite obvious, rising from 942 to 1080, with a low at 957. If it breaks below 957, we need to see if 942 can hold. However, for those holding short positions at 1059, don’t rush; you can wait a bit longer. On the futures side, there’s a gap below at 738, which is also the target for the weekly pullback, so shorts can be held onto a little longer.
In Japan, there’s still no sign of interest rate hikes, but the possibility of a rate hike during the January meeting next year is quite high. With Christmas and the Spring Festival coming up, for those looking to go long, remember to enter and exit quickly.
Let’s take a look at the smaller timeframes to find trading opportunities:
The price has returned to the key level of 972. As long as it doesn't break below 957, we can try a short-term long position with a target of 988. If 972 becomes a resistance level, then the key support will be around 90,000.
Right now, just focus on the prices of 972 and 957. If it breaks, we can pursue a short position; if it doesn’t break, we can try a long position.
That’s the thought process for the morning session. What do you think, everyone? Let’s discuss in the comments section.
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