7.23 Morning Silk Road Analysis

After a slight spike up in the early session, volatility decreased, and the market has been ranging sideways.
After the drop in the early morning, a recovery followed; buyers and sellers are temporarily balanced. The overall upward trend remains unchanged, and it is highly likely that during the day the gap created by the early session’s higher open will be filled.

Resistance is at 4130 and 4141, and support is at 4117 and 4100. Trading activity is currently not active, so it’s easy for price to do quick wicks back and forth to sweep stops—don’t rush to make a move.

Strategy: Look for opportunities to sell in the 4100-4120 range. Target first at 4170; if it breaks through smoothly, continue to look toward 4200.

Note:
The above analysis is Muyao’s personal analysis. The market changes rapidly; the content is for reference only and does not constitute any investment advice!
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