In the four-hour chart, the trend gradually weakened after the trend fell to a low point, and the support underneath formed a rebound. The current trend went up through MA5, and it continued to rise upward. While the Bollinger Bands opened downwards, the situation still maintained a downward suppression. If the short-term trend breaks through $7,400, it is expected to flip the current downward trend. The moving averages are arranged in a short position, and the subsequent trend may still be suppressed.
The STOCH RSI runs upwards, and the RSI indicator turns upwards at the 20 level line. Overall, the trend is likely to enter an upward trend. However, it is still in the pressure zone. RSI and KDJ are bonded to form a golden fork. There will be a small wave of a rebound in the short term. Please pay attention to the resistance suppression from above.
Short term trading tips:
1. Short: $7,400–7,350; target $7,250-$7,150; stop loss $7,450
2. Entry: $7,100-$7,150; target $7,250-$,7350; Stop loss $6,950.
As we mentioned before, The market will also maintain at $7,000-$7,600 at the end of the year
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