Another Friday has arrived. During trading, time always passes very quickly, but as long as there is profit, I believe those nights I stayed up have been worth it.

Market recap: As of last night after the release of the non-farm data, the price rose to around 62,200, then met resistance and pulled back to around 61,100. Today, during the market closure from the early morning until the daytime session, the market has been back and forth and adjusting within a tight range of 61,800–61,200.

The last day of the workweek is still the same old topic: no matter how well you judge the market, be sure to strictly follow risk control and defense.

The following is only my personal observations of the order book and price action—purely for technical discussion—and does not constitute any investment advice:

Macro news: The non-farm data is set to be released in June, and the employment figures released in April shrank from 12.9 to 5.7, which fails to conceal the “fat” between public officials and normal employment. In addition, with the reduction of the balance sheet, and in terms of predicting the dot plot, the market is even more ambiguous between expectations of future rate hikes and rate cuts, and uncertainty remains. At the same time, you should also pay attention to the impact caused by conditions in border areas.

Chart data: On the daily timeframe, the WeiTou incremental has been in a two-day consecutive bullish pattern, and it is currently showing a doji candle. On the four-hour timeframe, the WeiTou volume has shrunk; it is currently bearish, with a small-range rangebound move. On the hourly timeframe, the Kasou volume has shrunk and turned to incremental movement. After the second test of the high, overall pressure remains above, and the high level has shifted downward.

For price action to watch: For resistance, focus on the 62,000–62,500 area, and strongly watch around 63,600. For the downside, focus on fluctuations in the 61,800–61,000 range.

For supports to watch: On the downside, focus on 61,000–60,300. If it breaks, just watch the 59,800–59,300 range is enough.

For resistance and support levels to watch: On the top side, pay attention to resistance around 1,740–1,765–1,800. On the bottom side, watch support around 1,690–1,670–1,650.

Overall market: There is pressure on the top side. We can maintain the high-level Kasou we discussed earlier. Overall, look toward the support below. Today is a rest day, so the main strategy is to profit from range volatility—buy low and sell high. Within the range, when you can make a profit, take it and keep it.

The market is ruthless, but there is love in the world. This content is Mr. Zhao’s personal learning review and recap—purely a personal discussion of the market—and does not constitute any investment advice. Before taking action, be sure to plan ahead and control risk. View market fluctuations rationally. If you have any questions, feel free to consult me at any time.

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