12.17 Zheng Chen Morning Thoughts

MA10/MA7 moving averages formed strong support again yesterday, with the support level rising to the 4255/4273 range, and the moving average opening remains upward; the New York closing price firmly stands above the 5-day moving average level of 4300, with the bullish trend foundation unshaken.

From a short-term perspective, the four-hour chart moving average system shows a sticky state, with prices running in the upper middle band area of the Bollinger Bands; the RSI indicator stabilizes at the neutral position of 50, with no obvious directional guidance. The hourly chart shows a converging trend, with prices in a triangle consolidation range, focusing on support at 4286-4280 below and locking pressure at 4340-4350 above.

Low long layout: enter in batches in the range of 4296-4283, relying on the support below to speculate on a rebound market.

High short layout: choose the right time to enter in the range of 4340-4350, aiming at the upper pressure level to capture the correction space. #巨鲸动向