News: At 20:30 Beijing time on Wednesday, the United States released CPI data for April. The unadjusted CPI annual rate in April was 3.4%, lower than the 3.5% in the previous month, in line with market expectations. The core CPI monthly rate in April fell back to 0.3%, the lowest since December last year. This shows that price pressure is gradually weakening, and these data have brought hope to the Federal Reserve. But it is worth noting that super core service inflation (monthly rate of 4.2%) is still higher than the Federal Reserve's expectations.
Big Cake: This decline started on April 9. Big Cake has experienced three waves of correction and two waves of rebound. It is currently in the third wave of rebound. Yesterday's sharp rise of 5,000 points restored strong confidence in the market, while market panic fell to a new low in a month. From a technical point of view, it is already a trend of breaking across the board! According to the Fibonacci retracement line, the 0.618 retracement line 66553 is the strongest resistance. At present, its role has been temporarily revealed, temporarily blocking this strong upward momentum! Whether this market will reverse or be affected by the short-term data remains to be verified by the market! In the short term, focus on breaking through and standing firm at 67500 points. The market will most likely have a larger pattern to create a larger space!
Two cakes: Two cakes still did not destroy the overall downward trend, and are currently below the daily Bollinger band middle track 3043. The Fibonacci 0.236 retracement line 3111 points is an important resistance in the near future. In the short term, focus on breaking through this point and standing firm!
