4.29 early morning thoughts: with the bears in a weak position, the price is moving lower; continue to look for a further drop.

At present, the short-term rhythm is showing weakness and a downward trend. In yesterday’s price action, it was mainly a slow bearish slide lower all the way through, with absolutely no signs of a rebound. In the outlook ahead, there are also indications that the downtrend may continue.

On the four-hour chart, after the earlier attempt to push up to 795 failed, price then pulled back with a series of large bearish drops and retraced downward. There was a slight rebound in the short term, but under strong bearish pressure it had no effect. The moving averages are drifting lower; on the indicator, the bearish increment on the MACD is moving downward. After the two lines consolidate, a death-cross pattern forms. Meanwhile, the hourly chart and the four-hour chart are both syncing to move lower. In the near term, the rhythm is still led by the bears. As the rebound lacks momentum, the outlook has continued downside impetus—so early this morning, you can continue to watch for downside follow-through.

Refer to taking shorts in batches in the 765–770 area, targeting the 750–740 range.