6.21 Sunday 🫓 morning outlook: oscillation with an upward bias—will it continue?

At present, the market is still consolidating. However, the short-term rhythm is a bit choppy: every pullback is accompanied by a rebound. Meanwhile, the highs and lows are rising in sync, somewhat similar to the trend at last weekend’s close. Currently, the big 🫓 is holding steadily above 640.

On the 4-hour chart, the candlesticks are climbing slowly; the short-term outlook is bullish. The Bollinger Bands are tightening downward, with the lower band turning upward, and the MACD forms a golden cross upward—suggesting a need for continuation. On the 1-hour chart, the smaller timeframe is moving up in a head-and-shoulders pattern. Indicators across all levels point to the head-and-shoulders structure. In the short term, there are no signs of a pullback. Taken together from the 4-hour and 1-hour charts, the upward move has not yet ended in the short term; intraday pullbacks are “more likely.”

Reference around 638 and 635 (for the head-and-shoulders), targeting 650. If it breaks, it will continue upward to 660; if it does not break, then reverse 🈳.