May 20 Evening Analysis

From the 1-hour chart, the current price touches the upper Bollinger Band at around 77,642, while also facing resistance at the previous high of 77,639. After a sharp rise, momentum clearly stalls, and the bulls' strength is gradually weakening. The KDJ indicator is already in the severely overbought zone, with the K, D, and J lines all at high levels and showing signs of stagnation. The upward momentum is overextended, indicating a strong need for a technical correction. Although the Bollinger Bands are generally opening upward, the price is under pressure near the upper band and weakening. Small K-line oscillations at high levels suggest profit-taking is occurring, and the short-term risk of a pullback is significant.

Trading suggestion: Range between 78,000-78,500, with a target of 76,000-76,500.