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5.11 Market Situation: This Monday was quite exciting, with an early spike back to the resistance level of 82,400 that the manager reminded us of last week, followed by a pullback.
Currently, it is testing the 805-808 range again, so the short-term trend is also quite clear. If the hourly chart cannot sustain within the 805-808 range, be cautious that the market may continue to pull back toward the support near 79,900.
Since there was no quick spike up to 79,900 here, it would be very pessimistic for the bulls. So, for now, let's observe whether the market will oscillate within the 805-808 range or if there will be a spike and rebound near 79,900. These will be the two main points to watch today.