I. Price Trend
- Overall Trend: From the chart, we can see that the price exhibited certain fluctuations during the day. In the morning session (08:15 - 11:45), the price reached a high of 95,358.9, then started to decline, reaching a relative low of 92,700.4 around 15:00. After that, the price rebounded somewhat, but overall it remained in a downward trend, hovering around 93,358.2 as of 18:30.
- Key Price Levels: 95,358.9 is an important resistance level for the day, where the price attempted to break through multiple times but failed, indicating significant pressure above; 92,700.4 is a support level where the price received some support and rebounded after dropping to this level.
II. Technical Indicator Analysis
- Moving Average (EMA):
EMA(5) is 93,426.0, EMA(10) is 93,432.7, EMA(20) is 93,532.5, and EMA(60) is 94,042.2. The short-term moving averages (EMA5 and EMA10) are relatively close and are both below the price, providing some support for the price. However, the overall moving averages are in a bearish arrangement (short-term moving averages below long-term moving averages), indicating that the short-term price trend may be weak.
The price is operating below EMA20 and EMA60, indicating that the medium-term trend may be downward, and the price is in a relatively weak area.
Trading Volume (VOL):
VOL is 237.20, MA5 (5-day average trading volume) is 1.27K, MA10 (10-day average trading volume) is 1.43K. The trading volume for the day is relatively low, which may indicate that market trading activity is not high, with buying and selling forces being relatively balanced, and no significant funding is pushing the price to fluctuate greatly.
From the volume histogram, we can see that during periods of significant price fluctuations, the trading volume also increased to a certain extent. For example, during the morning when the price surged and in the afternoon when the price dropped to a low point, the trading volume increased. This aligns with the general price-volume relationship, where significant price fluctuations are often accompanied by an increase in trading volume.
MACD Indicator:
DIF (Difference Value) is -171.3, DEA (Differential Average) is -220.0, MACD (Histogram) is 97.5. In the MACD indicator, both DIF and DEA are negative, with DIF above DEA, and the histogram is positive. This may indicate that the market is in a bearish phase, but there is some short-term rebound momentum. However, the overall trend still leans bearish.
III. Operational Suggestions
From the current technical perspective, although the price rebounded in the afternoon, the overall trend is still downward, and the moving averages are in a bearish arrangement. The trading volume has not significantly increased, so blindly going long is not recommended. If considering going long, it would be better to wait for the price to break above EMA20 with a noticeable increase in volume, while also looking for buy signals such as a MACD golden cross (DIF crossing above DEA) before making a decision.
Brothers, K-line chart analysis is just a reference. The financial market is influenced by various factors such as macroeconomic data, company fundamentals, policy changes, etc. When making investment decisions, it is necessary to comprehensively consider various factors and align them with one's risk tolerance and investment goals.