The rebound of the big pancake last night was beyond expectations.
Originally, I thought it would only hover around 95,000 before coming down.
As a result, I underestimated the determination of foreigners to buy New Year's goods before the holiday, and the price once surged to 96,000 before stopping.
Now this downward trend line is still valid; after all, it was quickly pushed down after going up.
Moreover, the golden cross momentum of the four-hour auxiliary indicator hasn't even gained strength yet, and there are already signs of turning.
All of this resembles a false signal to lure in more buyers, and with the overall market closed today, I estimate the volatility won't be large. Instead, it might trigger more buying interest, and the monthly line is looking quite good, with a hammer candlestick. The beginning of the month should still be a downward trend.
Originally, I thought it would only hover around 95,000 before coming down.
As a result, I underestimated the determination of foreigners to buy New Year's goods before the holiday, and the price once surged to 96,000 before stopping.
Now this downward trend line is still valid; after all, it was quickly pushed down after going up.
Moreover, the golden cross momentum of the four-hour auxiliary indicator hasn't even gained strength yet, and there are already signs of turning.
All of this resembles a false signal to lure in more buyers, and with the overall market closed today, I estimate the volatility won't be large. Instead, it might trigger more buying interest, and the monthly line is looking quite good, with a hammer candlestick. The beginning of the month should still be a downward trend.