The price encountered resistance around 2460 and continued to decline. The current rebound to around 2300 faces resistance again, with the middle band of the Bollinger Bands at 2553 becoming a clear resistance level.
The MACD indicator continues to diverge downward, with the green bars expanding in volume. The RSI indicator is also weakening, indicating that the rebound strength is waning. These signals all suggest that the current market is still dominated by bearish momentum.
Consort Queen's Trading Suggestions: Rebound around 2320-2370, with a downside target near 2210-2100. If broken, continue to look lower.
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February 2 Consort Queen's Thought Process
The price encountered resistance around 2460 and continued to decline. The current rebound to around 2300 faces resistance again, with the middle band of the Bollinger Bands at 2553 becoming a clear resistance level.
The MACD indicator continues to diverge downward, with the green bars expanding in volume. The RSI indicator is also weakening, indicating that the rebound strength is waning. These signals all suggest that the current market is still dominated by bearish momentum.
Consort Queen's Trading Suggestions: Rebound around 2320-2370, with a downside target near 2210-2100. If broken, continue to look lower.