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The decline started from 126,000. On the larger time frame, it has two ABC structures of the same level. Currently, it's the B-wave rebound of the second ABC.
The B-wave consolidation zone was originally inclined to form an abc structure, but it could also form an abcde triangle structure.
Overall, it's still consolidation. It is expected that the first half of July will still be mainly consolidation. After consolidation, it will continue to decline in the major C-wave.
Risk warning: This is only a market structure analysis and does not constitute any trading advice.