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Market Outlook
Maintain a bullish rebound above 65200
Currently, the market is around 66700. There was an attempt to break above 68 today, but it was resisted and pulled back.
Compared to previous rebounds, the current movement is more "entangled."
Although it is still above our bullish level of 65200, it has not immediately broken through (or after a false breakout, fallen back) the support/resistance at 67350.
My main expectation remains that after touching 65200, there will be a rebound. I believe it will at least go above 71800, so I am holding my position steady.
On the news front, Trump said he might end the war without opening the strait. In my analysis the day before yesterday, I pointed out that Trump might wait another week to end it, which leaves insufficient time to open the strait. Ending the war without opening the strait is an inevitable outcome.
The lingering question is: if the U.S. announces the end of the war, will Iran continue to blockade the strait? What is the significance of blocking the strait (is it just to interfere with Western countries other than the U.S.)?
I think if Trump can unilaterally declare the end of the war, it would be somewhat positive for the market, but Iran's reaction is currently unpredictable.
This article is sponsored by #BCGAME|@bcgame @bcgamecoin