July 7

Er Bing Morning
The price began a swing rebound from the low of 1562. Short-term moving averages are aligned bullishly, and the short-term bullish structure remains intact.
The price is under pressure at the Fibonacci resistance level from the prior decline. The 60-day and 90-day long-term moving averages are still sloping downward. This current rise is a corrective move after the fall and does not mean a full trend reversal has occurred.
The MACD bullish red bars continue to shrink. The RSI has entered the high range. Bullish momentum is gradually weakening, and in the early session the market has moved into high-level consolidation and a shakeout.
Strategy: Sell short from 1800-1830, defend at 1850, target 1760-1750
Disclaimer: Investing involves risk; exercise caution when entering the market
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