7.30 Wednesday

Good afternoon, everyone!

The trend from last night was strikingly similar to the day before yesterday, both moving down to the first support level before starting to bounce back. Currently, the market is in a sideways consolidation at the daily level, while on a smaller time frame, it is still following the pattern of higher shorts and lower longs in the Silk Road direction. As long as the news of interest rate cuts continues in August and September, the main strategy will still be to buy on dips.

The daily close of the large pie is not above the 1183 line, and the market is expected to pull back with initial support around 1172-1168. If that breaks, we will look at around 1158. The resistance above is still near the 1193-1202 positions.

The concubine is under pressure with a slight pullback to 3830. The small timeframe closing price looks at the 3800 level; if it can't hold, it will continue to pull back. The first support below looks at around 3750, and if that breaks, we will look at the two levels around 3720-3680. For a rebound after a pullback, the resistance above is around the two levels of 3880-3910.

Since the overall Silk Road suggestion is to move in a range of fluctuations, we will look to enter short positions on the rebound at high points, and enter long positions when it retraces to support. We should not be overly fixated on the pattern; securing profits is what matters.
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