June 25 Evening Thoughts of Lao'er ‖ A Zhang Yi's Thoughts

Today, Lao'er's intraday high reached 1679, low touched 1551, forming a roller-coaster pattern of surging up then consecutive declines. In the morning session, bulls pushed up to create a false impression of strength, attracting retail investors to enter and take over, after which bears directly exerted force to dump. The chart printed multiple bearish candles in a row, completely dismantling the bullish offensive. At the end of the session, prices slightly stabilized and consolidated, but the overall weak pattern has been set.
From the technical pattern on the 15-minute cycle, the Bollinger Bands have shifted from opening upward to turning downward and pressing. The current price is under pressure and running below the middle Bollinger Band. The Alligator indicator's three moving averages are all sloping downward, forming layered suppression. The MACD histogram bars have turned downward, and the bearish green bars continue to expand without signs of shrinking. Although the KDJ indicator is at a low level, it has not formed a valid golden cross, and there is no signal of a bottom rebound. Every subsequent small upward rebound will be an excellent opportunity to enter short positions. It is difficult for bulls to regain dominance on the chart at this stage. The overall trend will continue downward following the bearish direction.
Summary: Firmly bearish. On price pullback to 1640-1655, lay out short orders. Subsequent downside targets are 1580-1550.