7.28 “Big Pizza” Early-Morning Market Observation

During the early-morning session, the price held around 64,900 in a tight range. After the overnight high at 65,600, upward momentum faded. The market is waiting for tomorrow’s interest rate decision to be released. Liquidity during the early-morning hours is weak; market participants generally reduced positions and remained on the sidelines. After the spike, short-term profit-taking was slightly realized. The market repeatedly roiled within the overall range, with no momentum to push in a single direction.

The near-term suppressing range is 65,500-65,900, while 66,300 is the next phase of strong resistance. Key supports below are 64,900 and 64,400. Price stabilization near the day’s low is solid, and there has been no effective break below the prior short-term rebound structure, which remains intact. Short-term indicators have edged into the overbought zone, and further upside potential is limited.

Early-morning reference ranges:
1、Rebound 65,500-65,900, defend above 66,200; targets 64,900 and 64,400;
2、Pull back 64,400-64,900, defend below 64,100; targets around 65,500.
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