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Yesterday, the market surged to around 93,000 before starting to pull back, with a low of 90,600. Up to now, there hasn't been any significant rebound. The 91,500 level we set in the middle, which is just a few hundred points away, remains unbroken. Overall, the upward momentum is still relatively weak.
From the candlestick pattern, after breaking out of the triangle consolidation, there was no further acceleration upward. Instead, it returned to the previous oscillation zone. This indicates that the selling pressure above is quite heavy. Just as it looked like a breakout was imminent, it was pushed back down. If this continues, it’s likely we’ll keep toying around this level for a while.
The short-term rhythm is as follows: yesterday, it declined all day, and this morning, it continued to test the lows. It repeatedly tested the previous high-low turning points. So during the day, it will basically start from this level as the point of oscillation and continue to fluctuate around here.
The trading strategy is quite simple: buy low and sell high. You can short in batches around 90,500 to 90,000, and look for targets between 91,800 and 92,300 above.