A-sentence summary of current short-term market conditions: At a balance point between bulls and bears; if there is no effective breakout, the downtrend will continue.
Indicators: 1D MACD, selling accelerates after bearish crossover at 0-axis; 1D RSI after bearish crossover fails to break through on retest;
Wave Analysis: Currently in a rebound against the 76---673 downtrend segment;
Fibonacci: Rebound is exactly resisted at 0.5 of the overall downtrend segment;
Observation Point: 71700, 4H; if 1D closes above this price level, the rebound will continue; otherwise, after the 4H indicators complete their digestion of this sharp rally, the downtrend will resume.
A-sentence summary of current short-term market conditions: At a balance point between bulls and bears; if there is no effective breakout, the downtrend will continue.
Indicators: 1D MACD, selling accelerates after bearish crossover at 0-axis; 1D RSI after bearish crossover fails to break through on retest;
Wave Analysis: Currently in a rebound against the 76---673 downtrend segment;
Fibonacci: Rebound is exactly resisted at 0.5 of the overall downtrend segment;
Observation Point: 71700, 4H; if 1D closes above this price level, the rebound will continue; otherwise, after the 4H indicators complete their digestion of this sharp rally, the downtrend will resume.