6.13 Morning Big Boss’s Thoughts


Yesterday, a correction rhythm was formed on the 4-hour level after ranging/sideways consolidation. Overall fluctuations were concentrated around the middle band, touching a high of 643 and a low of 623. After touching support, it stabilized, and then reversed to move upward. As of now, it is at 635, with a slight intraday close higher; the gain is about 0.02%.

The upper band of the Bollinger Bands keeps being pressed downward, together with a significant contraction in funds. The sell pressure above is clearly stronger than the buying support below. When price tests the upper band, volume is insufficient, and the incremental funds needed for sustained pushing higher are lacking. Meanwhile, the upward lift from the support below is limited. Overall, it is still in a weak corrective phase after the downward stacking, so the probability of a short-term downward move is higher.

In summary, look for a dip at 625-628 today, and watch for a move up at 640-644.

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