Currently, the Bollinger Bands are narrowing, and the support below is very stable. Once it stands firmly on the middle line, the upward space can open up.
In terms of moving averages, the short-term moving average has already crossed above the long-term moving average, indicating a clear strengthening trend. The price is firmly above both moving averages, and the short-term moving average is following closely to provide support. Overall, the trend is shifting from a downward movement to a recovery in upward movement.
Although the MACD is still below the zero axis, the downward momentum is weakening. The fast and slow lines are slowly converging at the low position, which may form a golden cross upward signal at any time.
It is recommended to trade long around the target range: 90700-91200, with an initial target of 93600—94600.
