6.20 Saturday, the second day of the Dragon Boat Festival holiday—under a range structure, short-term entries are all you need.

Aside from the holiday, the market has fully moved into a range adjustment. After a downward leg earlier since yesterday morning, price stayed in a narrow low-level range through yesterday. After several probes lower that didn’t work out, today it finally saw a rebound, capped near the 639 area on the way up. Currently, the big 🫓 is consolidating around 637.

On the 4-hour chart, the earlier big bearish selloff has already “retracted” some of its room, while the Bollinger Bands are curling downward. The current lower-timeframe rebound is clearly being suppressed by the middle band, showing that rebound strength is limited. Even though the near-term rhythm is a bit weak, since today is the weekend, there’s no need to watch a one-way move—just treat it as a short-term trade.

Watch resistance above at 640, and support below at 620. Price is basically being boxed in around this zone, sticking to the range.