7.21 Afternoon Big Pie Market Analysis

The intraday low of 1920.90 triggered a round of a rally, which pushed up to 1939.14, but then upward momentum weakened and the price began to range and fall back. The current price is 1933.67. The overall intraday fluctuation range is extremely narrow, with the entire day’s amplitude at only 0.08%, and trading sentiment is rather subdued.
In the short term, moving averages still sit below the price and provide support. The order book shows that buy support (bids) below the market is stronger than sell pressure (asks) above it, and the downside floor is still fairly solid. The 1939 area has been tested multiple times for resistance, but has not been able to break through effectively. In the near term, it is difficult for the market to sustain continuous upward movement. Going forward, it is likely to stay in a sideways range-bound consolidation between 1925 and 1939.
Do not chase longs blindly just because there is a slight rise. Focus on the support around 1925. If that support breaks, the market will likely enter a pullback phase.