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The blue double lines in the chart form an ascending channel.
The lower band starts from the low of 6240 and gradually rises, serving as the core support line for this round of uptrend.
The upper band rises synchronously, forming the pressure boundary of the movement. Currently, it is approaching the upper band near 7599.
No effective break below the lower band indicates the medium-term uptrend is intact.
Moving averages and momentum show bullish alignment.
Price is holding above all moving averages, indicating strong short-term bullish momentum. Moving averages will provide support during pullbacks.
The current level around 730-740 is the trend defense line.
Resistance is near 759, the direct pressure level. A volume breakout would open higher space; if it meets resistance and falls back, it will likely retest the channel midline/lower band.
This is a strong zone, but it also means short-term overbought conditions. Remain vigilant of the risk of a surge and pullback.
Use the channel lower band (around 73000) as the profit-taking/stop-loss line. As long as price does not effectively break below, you can continue holding.
If price surges above 76000 and shows a long upper shadow/volume increase on a bearish candle, consider taking partial profits to lock in gains.
Prudently wait for a retest of the channel midline/lower band (73000-74000) with effective moving average support before considering entry.