May 1 Market Analysis

Resistance Levels (Resistance Points)
● First Resistance Level: 77,038 - 77,500 range
● Basis: The starting point of the red dots in the SAR parabola indicator on the chart is around 77,038.9. This is a short-term direct resistance line. At the same time, the previous decline's consolidation platform is also at this level. If the price rebounds here, it will likely encounter selling pressure from short-term profit-taking and short-covering positions.
● Second Resistance Level (Strong Resistance): Around 79,488
● Basis: This is the highest point at the start of this downward trend on the chart. If the bulls are very strong and break through the first resistance level, the next target is to test this previous high. However, in the current weak oscillating trend, it is difficult to reach this level in the short term.
Support Levels
● First Support Level: 75,300 - 75,500 range
● Basis: This is the recent hours' consolidation lower boundary and the 24-hour low (75,319.7). Currently, the price is testing the support strength at this level, with a lower shadow on the candlestick, indicating buying interest at this level.
● Second Support Level (Strong Support): Around 74,943
● Basis: This is the recent lowest point explicitly marked on the chart (pin low). If 75,300 is effectively broken, the price is likely to test this "iron bottom" again at 74,943. If this level cannot hold, the trend will turn completely bearish.
Trading Suggestions
● Current Price: 76,418, located in the middle of these two key zones.
● Focus: Pay close attention to the gain or loss of 75,300.
● If it holds above 75,300 and rebounds, look for upward targets around 77,000.
● If it breaks below 75,300, watch for a move down to 74,943.