7.28 Huang’s morning outlook

This week there are no major data releases like inflation or employment. The dollar has been hovering at high levels with small fluctuations, and the whole market is waiting. With no positive news to drive a rally, the previous rise was basically just a technical rebound, and there hasn’t been any fundamental turnaround and bullish catalyst. Funds willing to enter long are few and far between.

For short-term resistance above, watch 4102 and 4140. As long as support holds at 4086 and 4070 below, that’s enough. Now the rebound strength of the bulls is getting weaker. The earlier recovery move has almost run its course, and technically there’s accumulated momentum for a pullback.

Outlook: Wait for the price to rebound into the 4090–4110 range, and build short positions in batches. The first target is 4070, and then look lower toward 4050.

This outlook is only for personal market analysis and does not constitute any investment advice.