Hello everyone, the market trend yesterday did not rebound as expected after a reversal at the hourly level, and quickly moved upward, which also indicates that in the larger cycle, the bearish forces still dominate, which is indisputable. Although we are currently in a rebound phase, the larger cycle is not reversing, so participation in the hourly or daily level rebounds is possible, but be cautious of the risk of a pullback.
Currently, from the four-hour level, a double bottom structure has formed, confirming the rebound here, and it is highly likely that we will enter an upward channel. The pressure levels of the channel are set at 96800-97000-102000. Only after reaching the pressure level will the bearish trend continue to the previous low of 80600.
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