Ergou's main force has repeatedly tested the previous high without breaking it, is the bullish momentum entering a countdown?
Currently, the price of Ergou is running around 3086, it is 3:40 AM Beijing time, the price has accurately dipped to 3050, the first entry point for going long, at this moment there is no need to hesitate, just strictly follow the established trading plan, and leave the rest to the market trend for verification. The main funds have repeatedly tested but have never been able to break through the previous high, which is enough to demonstrate that the bullish momentum is still strong. It is suggested to rely on key support levels and do a good job in risk control layout, hold with stop-loss in place and wait patiently for the market to break upwards.
From the daily K-line trend, the price has reached a maximum of 3128 and a minimum of 3048 before publication. The short-term and long-term EMA indicators are clearly diverging, indicating that market volatility will further intensify. The EMA15 short-term resistance level has a significant suppressive effect, and the next stage should focus on breaking through the 3170 golden ratio resistance level. The MACD indicator's volume continues to shrink, and the DIF and DEA dual lines are long-term flat below the zero axis; however, the daily K-line has stood firm at the Bollinger Band middle track of 3076 for three consecutive trading days, clearly releasing a rebound signal. Attention should be paid to the upper Bollinger Band pressure level of 3317, while the lower support level looks at 2835.
Looking at the four-hour K-line, the trend signal is clearer. The EMA trend indicator is still in a converging phase, and the key suppressive effect of the upper resistance level of 3170 remains unchanged; the MACD volume continues to reduce, and the K-line has shown an upward trend. The DIF and DEA dual lines are converging synchronously at a low level, releasing a bullish stabilization signal. The Bollinger Band middle track focuses on 3135, the upper track pressure level is 3255, and the lower track support level of 3011 can serve as a defensive bottom line. In summary, from the multi-timeframe indicators, the support strength below 3050 is substantial, and there is no need to be overly entangled; doing a good job in risk control can confidently hold positions and wait for the northbound market to start.
