Tuesday morning trading thoughts: Don’t use your mouth to draw lines—stop tearing yellow hair.

The current moving averages are arranged in a bullish pattern. The short-term moving average is above the long-term moving average, indicating that the foundation of the medium-term uptrend is still there. After the price pulled back and then retested MA7, it found support. The current level around 68 is above the moving-average support band, which is a typical trend-following retracement pullback and long entry window.

The previous high at 76 formed medium-term resistance. This rebound starting from 62 was halted at the yesterday’s 7 bowls integer level, then it pulled back. Currently, it is in the pullback-and-repair phase within an uptrend. The strong support below is the 67-68 range. The pressure level is the 7 bowls integer level. The medium-term target is 72000-73000.

On the four-hour K-line, after the pullback it closed a stabilization bullish candle. Although volume has not expanded significantly, a pullback on shrinking volume indicates limited selling pressure. The main force, Zijing, has not massively fled, so it’s building energy for the rebound.

After the message was sent, market panic emotions were quickly released. Shorts took profits, and longs took the opportunity to enter, becoming the direct catalyst for this round of the rebound. The technical-side support and the fundamental-side catalyst form a resonance, amplifying our long trade win rate. Hold the position and let’s see what else yellow hair has to say tonight at 8 PM.

Trading suggestions
Long near 68-67
Target 70-71
Break above 74
Defense at 66
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