June 12 “Er Bing” Analysis

Er Bing quickly retreated from the stage high point of 1693. Technically, the market has switched from the earlier one-way bullish trend to a pullback and correction pace, and the bullish-bearish momentum is clearly changing.

From the Bollinger Bands system, the Bollinger middle band was originally the core support line of this leg’s rally. After the price fell below it, this level has turned from support into downward pressure. The Bollinger upper band and middle band move sideways in sync, then start to turn flat; although the lower band is still rising, the overall band opening has shifted from expansion to convergence. This signals the end of a one-way move, falling volatility, and that the market is entering a short-term range-bound pullback phase.

In terms of candlestick structure, after a large bullish candle appeared at a high level, multiple consecutive bearish candles with long upper shadows and doji candles formed a typical combination of “high-level stalling + bearish engulfing,” reflecting that the selling pressure above is now clearly stronger than the buying follow-through. In the subsequent move, the bearish candle bodies directly broke below the middle band, and the closing price settled below the middle band, confirming the validity of the support breakdown. Bearish momentum has begun to dominate the short-term market.

Trading suggestion: sell-zone $GT 1690-1720, target 1610-1550.