July 22 Evening Trading Analysis (Leader’s Late Update)

Today’s market action: In the morning, prices surged to test the high at 667. After multiple attempts, it failed to break through the previous high at 669. The bulls’ offensive strength was weak, and then the market reversed into a sustained downtrend. It has now reached a lowest point around the intraday low of 656, with the current price running near 658.

From the clearly visible pace of the move, after a period of consecutive rises, short-term bullish momentum has continued to fade. The one-hour Bollinger Bands have already opened downward, and the market has officially entered a short-term weakness phase.

Evening key to watch: the strength of the defense at the 656 support:
If support is effectively broken, downside room will open further. The first downside target to watch is 650, followed by an extension toward around 645.