Concubine Morning Session Intraday Analysis

Daily Chart Level: On February 27, a large bearish candle with a long lower shadow was formed, accompanied by massive volume, indicating that after the sharp rise on February 25, the market faced strong selling pressure. However, there is buying interest around 1887, forming a short-term support. The overall trend has shifted from a rapid upward move to a decline.

1-Hour Chart Level: After the price touched the low of 1887 at 16:00 on February 27, a long lower shadow was formed. The candle closed bullish at 07:00, indicating short-term signs of stabilization and potential bottoming out at low levels, possibly entering consolidation or a slight rebound.

MACD (1Hour): DIF and DEA are both below the zero line, with DIF below DEA, and the MACD histogram is negative, confirming a bearish trend. However, the absolute value of the MACD histogram is converging, indicating that bearish momentum is weakening.

RSI (1Hour): From 00:00 to 06:00, RSI remained in the oversold zone (below 30), indicating extreme market weakness. The latest RSI value is 33.54, just emerging from the oversold area, suggesting a potential short-term technical rebound or consolidation.

EMA (1Hour): EMA7, EMA30, and EMA120 are all in a bearish alignment and diverging downward. The price is well below EMA30 and EMA120, confirming a strong downtrend. The current price of 1929.95 is slightly above EMA7 (1928.82), which may provide short-term support or act as a resistance flip. EMA30 (1971.49) and EMA120 (1969.86) form an important resistance zone above.

Volume: Daily Chart Level: Both the sharp rise on February 25 and the plunge on February 27 were accompanied by massive volume, indicating active market trading, significant disagreement between bulls and bears, and that bearish forces dominated on February 27.

1-Hour Chart Level: During the decline, volume continued to increase, especially when the price hit the low of 1887 at 06:00 on February 28, with volume reaching 25,905, indicating strong downward momentum. At the same time, some bottom-fishing buying was observed at the low. After the sharp decline with high volume, a short-term correction is likely needed.