Yesterday's chart saw a high followed by a pullback; the overall market has been weakly oscillating over the past couple of days. The daily candlestick is still in the late stages of repairing the bearish channel, with rebound momentum clearly fading. The bulls lack continuity, and the upward force isn't keeping pace, leading to a growing risk of a short-term breakdown.

The daily Bollinger middle band continues to apply downward pressure, with selling momentum still strong. After the morning close, the upward momentum on the daily chart has significantly weakened. Given the current structure, even if we see a slight rebound during the day, it's likely to face pressure and drop back down overnight. The probability of an accelerated pullback adjustment on Thursday is very high.

The 12-hour Bollinger Bands are currently continuing to converge, and the KDJ indicator has turned down from high levels, showing a clear need for a pullback repair. This timeframe only closes two candlesticks a day, so expecting the Bollinger Bands to give a direction directly is tough over the next couple of days. If the market pulls back and then rises, the KDJ's rebound potential is also extremely limited, so the larger timeframe still maintains a high short strategy, though the key resistance is quite far from the current price, so I don't recommend chasing shorts directly.

The Bollinger Bands have settled into a range over the last 6 hours. Relying on the candlestick close to passively open up space isn't realistic. The KDJ is also pulling back from high levels, needing to fix the overbought condition. After a slight repair of the indicators, unless a large bullish candlestick breaks out with volume, the typical movement will have its ups and downs strictly limited. After the 4-hour close, bullish momentum has significantly weakened, and there is also a need to pull back and repair indicators to digest the selling pressure above.

The mid-band of the Bollinger Bands on the 1-hour and 2-hour charts is currently pressing down significantly. Focus first on the mid-band pressure for these two timeframes during the day, then look at the resistance level on the 4-hour chart. Even if the market makes an upward pullback today, it will still be an opportunity to switch positions for shorts. I expect that after this pullback, the downward rhythm will be smoother than before.

Overall, as long as the bulls haven't completely weakened, there’s still a chance to play a short-long setup at the key support below. The day won't show a strong one-sided bullish surge. Once the evening market kicks off, as long as no large bullish candlestick breaks out consecutively, any spikes that lead to stagnation can be a signal to layer in short positions below key resistance. Today's overall trend is a technical repair, gradually weakening the bullish structure. During the repair process, there will also be some actions to lure in more buyers. From late night to tomorrow, the emphasis will be on high shorts.

Trading strategy: During the day, it is highly likely to maintain a range-bound consolidation. If there is a key support retest during the day, a short-long play can be made; shorting at high levels is only suitable for choppy short-term arbitrage, and a daily trend of a significant downward movement won't emerge just yet.

Support level

Short-term core support: 2240-2220

This position is the bottom of the recent consolidation platform and also the low point from yesterday's drop. During the day, focus first on the strength of support at this line. If it holds, there may still be a slight pullback.

Strong support: 2190-2160

This position is the recent phase low and a key defense level for the bulls; if a solid break below this level occurs, the pattern will directly weaken, starting a new round of downward movement. Currently, I don't expect a direct breakdown.

Resistance level

First resistance: 2280-2300

This level is the recent rebound high, a short-term pressure zone, and also a strong pressure point for small cycles. Touching this level will likely result in a stagnation drop.

Second resistance: 2330-2350

This is the ideal area for short setups during the day, also the upper resistance of the current consolidation platform. When reaching this position to set shorts, just need to reserve some points for adding positions, layering in is fine. The short-term market is weak and choppy; the 2350 line may not be easily reached, so place limit orders, and layer in shorts when it does.