January 10th, Friday: Are the bulls starting to recover, and is a rebound opportunity at hand?

As the market remains weak and everyone is bearish, today the bulls quietly embark on a recovery journey. This is not baseless speculation; the potential for a significant upward movement could indeed be just around the corner.

From a technical analysis perspective, in the hourly chart, after a price dip, there has been a strong series of upward candles, with a notable decrease in bearish volume. The moving averages are turning upwards, indicating a clear continuation of the upward trend. The urgent need to open up a recovery channel is evident with a series of short-term upward movements. Coincidentally, it’s Friday, and with market sentiment fluctuating, an oversold rebound is expected, still leaving room for short-term recovery. Although the larger trend remains bearish, chasing shorts at this moment is certainly not a wise move.

For the afternoon trading strategy, it is recommended to go long in the range of 92800 - 93300, targeting 94800 and 96000. When the trend is unclear, it’s prudent not to blindly chase shorts; instead, seizing the current recovery opportunity for the bulls is the best strategy.