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Today's market analysis, monthly opening price 2264.37!
Monthly line switching, we still use the method of analysis, setting the trend on the monthly line, finding positions on the weekly line, executing on the four-hour daily line, preparing for oscillation with a slight bullish bias, pulling back to go long, and light positions at high altitude!
From the chart, the monthly line shows that April's monthly line is a bullish candle, roughly similar to March's closing line, with a pullback after reaching a high point! There is a reversal pattern indicating a reversal.
Key price resistance above 2300, the central price of the monthly line, strong resistance at 2500, and trend reversal confirmation at 2700!
Support below at 2180 and 2050, which are the 200-day moving average prices, with strong support at 1900! The monthly line is forming a bottom with a slight bullish bias, and the overall upward probability in May is quite high. Pullbacks to go long are a great opportunity for brothers to eat meat!
Long position ideas
Aggressive: 2180-2200. If the price does not break the range, combined with four-hour signals of stopping the decline, directly enter long positions. Stop loss if broken below 2150! Target 2300/2450, previous high points, and if the pullback reaches 2400 and confirms a breakout, add to positions smoothly with targets at 2500-2580-2630!
Steady: Observe 🧐 breaking above the previous high at 2300, and if the pullback to 2280-2300 does not break the support, go long directly, with a stop loss at 2250! Targets at 2450-2500-2700!
Aggressive adding positions: stand firm at 2330, with a rolling position, between 50-80 is not suitable for adding positions. If the market stabilizes above 2380, leaning north, and stabilizes at 2400, directly hold and add positions, with targets at 2500-2700!
Short position ideas
Aggressive: 2480-2500. If volume increases but does not break through, combined with four-hour divergence, find entry points, with a stop loss at 2530! Targets at 2400/2300.
Steady: If the weekly line closes a bearish candle next Monday and does not stabilize above 2280 for a long time, and the closing price is below 2230, go short directly with a stop loss at 2255! Targets at 2100-2050!