May 1 Morning Analysis

Hope everyone is having a pleasant holiday. When holidays coincide with weekends, market movements are usually not significant. Currently, the 15-minute chart shows the market in a high-level oscillation, with prices trading above the middle band of the Bollinger Bands. The Bollinger Bands are generally narrowing, indicating that short-term market volatility is decreasing. Both bulls and bears are entering a temporary pause, and the market is brewing a new round of directional choice.
In terms of moving averages, the short-term and medium-term averages are highly converged, with prices oscillating around the moving averages without forming a clear bullish or bearish trend. This also confirms the current market rhythm of consolidation and fluctuation, with buying and selling forces in a relatively balanced state.
In the MACD indicator, DIF crosses below DEA to form a death cross, indicating that bearish momentum is slightly releasing. However, the downward strength of the indicator is weak, and no signs of deep correction are present, representing a short-term technical pullback during an upward trend.
Overall, the market is mainly consolidating at high levels, with key resistance concentrated near the upper Bollinger Band, and support relying on the middle band of the Bollinger Bands. Trading can be based on this range to grasp the rhythm, waiting for a breakout in either direction to follow the trend. Currently, the market is oscillating, and it’s best to trade within the range of 76,500-77,500 and 74,700-75,300.