5.21 Bullish Pattern Analysis

From the 1-hour perspective, this round of market surged to 2157.50 and then quickly retreated, forming a long upper shadow candlestick, indicating that the bullish momentum is clearly weakening, and there are obvious signs of short-term overbought conditions. The price broke through the upper Bollinger Band at 2144.12 but failed to stabilize, rapidly falling back inside the band, which shows that the resistance at the upper band is very strong and the bulls are unable to continue the upward trend.

The Bollinger Bands are generally trending upward, but the short-term candlesticks have already shown signs of a stalling rally reversal. The high-volume pullback suggests selling pressure is beginning to ease. Currently, the price is under pressure below the upper band, and the bullish and bearish forces have already shifted, indicating a strong short-term pullback demand. The primary support below is the middle Bollinger Band at 2133; if this level is broken, the price will further seek support at the lower Bollinger Band at 2122.

Overall, the high-level long upper shadow combined with resistance at the upper Bollinger Band indicates that bullish momentum is exhausted, and the short-term trend is biased bearish. A pullback is prioritized, so caution is advised when chasing longs.

Trading suggestion: 2160-2190 range, target 2080-1990.