May 2 Afternoon Analysis | Support Turns into Resistance, Bears Control the Overall Pace

After being blocked from rising early in the session, the market oscillated and declined, with the 78,900-79,600 range showing significant resistance, and key support levels have already been broken. All technical indicators are aligned with a bearish trend, consistent with the early morning forecast, currently steadily moving toward the 77,500-76,800 target range.

The current market continues the weak trend from the morning, with bullish momentum severely lacking during the rebound, and strong resistance above.

The market trend has already shifted, with original support completely turning into resistance, and technical patterns deteriorating simultaneously. At this stage, the market is entirely dominated by bears. The short-term rebounds are merely technical corrections, with very limited upside potential, making it difficult to quickly regain a bullish strong pattern.