11.20 Today's Short View on BEL
First, we need to understand the purpose of this wave of rally $BEL .
The first batch of bulls entering after the rally comes from the secondary market's gainers list, resulting in a large number of retail investors chasing the rise. Not only did it not continue to rise, but it also dropped by 23% at a key position, trapping and shaking off a large number of bulls. Now this position is a very important level. The upper pressure level can be selected from the hourly level 'Dark Cloud Cover Support Point' turning into a pressure point as defense. Therefore, it perfectly combines with the 'Left One Formation', which is the bottom of the bullish candlestick's body '0.6712' as short defense.
Now we can see that the defensive level is 12% away from the current price, and the target level can be aimed at around 0.38, with 36% space below for the target level. Now let's look at the daily line. If this bearish candlestick box closes successfully, it will form a Evening Star pattern. Overall, we can hold a short position.
Suggested leverage (1-3 times) (position 15%-20%)
The above content belongs to Jin Gui's views and is for reference only.
