The early morning market can be described as highly competitive, with the price reaching around 94,200 before pulling back to around 91,300, then rebounding to around 93,800, and currently oscillating around 92,500. Overall, after an upward movement, the market faces resistance and is moving downward within a wide range, with moving averages trending downward. The daily chart shows decreasing volume with a bearish candlestick pattern. Attention remains on the resistance around 94,500 for a breakout and stabilization. The four-hour chart shows decreasing volume with a transition to increasing volume, forming a bullish engulfing pattern with two bearish candles. Support is expected around 90,800. The hourly chart shows increasing volume with a downward trend.
Wednesday Intraday:
The market around 92,800-93,300 is consolidating, with a target of around 91,500-91,000.
The market around 3,260-3,280 is consolidating, with a target of around 3,200-3,180.
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The early morning market can be described as highly competitive, with the price reaching around 94,200 before pulling back to around 91,300, then rebounding to around 93,800, and currently oscillating around 92,500. Overall, after an upward movement, the market faces resistance and is moving downward within a wide range, with moving averages trending downward. The daily chart shows decreasing volume with a bearish candlestick pattern. Attention remains on the resistance around 94,500 for a breakout and stabilization. The four-hour chart shows decreasing volume with a transition to increasing volume, forming a bullish engulfing pattern with two bearish candles. Support is expected around 90,800. The hourly chart shows increasing volume with a downward trend.
Wednesday Intraday:
The market around 92,800-93,300 is consolidating, with a target of around 91,500-91,000.
The market around 3,260-3,280 is consolidating, with a target of around 3,200-3,180.