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Yesterday's price action moved up to around 71,300 from near 69,700, then pulled back to around 69,500. Overall, the market maintained range-bound oscillation with an inverted V-shaped pattern. The daily candlestick shows a doji with upper wick and reduced volume, the 4-hour level shows bearish consolidation with declining volume, and the hourly level shows gradual volume contraction.
Saturday early morning market analysis:
The price action is trending toward range oscillation. Wave trading with high selling and low buying is suitable.
Around 69,500-69,000 range for long positions, targeting 71,000-71,500 area. Conversely, short positions can be considered.
Around 2,115-2,085 range for long positions, targeting 2,160-2,180 area. Conversely, short positions can be considered.
With significant market volatility, pay attention to risk management and defense. Secure profits within the range fluctuation band.
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