Morning Thoughts on August 22
On the hourly chart, MA144 and MA169 continue to show a bearish arrangement, forming a strong resistance zone; after the price rebounded to 4331, it immediately encountered resistance and retreated, which essentially belongs to a technical correction triggered by short-term profit-taking, not a trend reversal signal.
It is recommended to short around 4320-4350 on the rebound, with a target looking down at 4240-4200. If it breaks down, continue to look down.
(For aggressive traders, short around the current price of 4290)
