Today’s White Market Analysis: The bears firmly control the market, and all rebounds are just bull traps

Today’s White Market overall shows weak, choppy consolidation that continues to drift lower. Bearish sentiment in the market is strong, bulls have no strength to resist. As the price moves further, it keeps getting weaker, and the overall focus continues sinking downward.

In the early session, it directly followed the weak pattern from overnight. The price churned in and out around the 760 level. Every time there is a small lift, it’s followed by a lack of follow-through—there’s no capital stepping in to take over. The resistance overhead is tightly capped, completely failing to open up any upward space.

After the news landed in the early hours, cautious sentiment in the market quickly warmed up. The bears took advantage of the situation and launched a fierce attack, directly breaking through a key support level. They kept pressing lower all the way down to around 748, where they barely managed to steady their footing.

In the aftermath, although there was a small round of rebound and repair, it returned to the 760 range again. But this was purely a technical dead-cat bounce after oversold conditions—there is no incremental capital to support it. Overhead pressure is heavy. Any bounce, no matter how small, is immediately met with pressure and a drop back.

From a technical perspective, the short-term downward trend has already taken shape. The price has been consistently suppressed below the moving averages. This is a classic bearish pattern: a typical retracement meets resistance, and the subsequent selloff is very decisive. The weakness throughout the White Market remains unchanged. There is unlikely to be enough reversal strength in the short term. In terms of trading, stick to the trend and mainly go for high-side shorts. Don’t blindly try to catch the bottom or take delivery!
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