Jinda Chuan 4.16 Early Morning Thoughts

Yesterday's high surged to 4871 and then declined as expected, with the lowest reaching 4786, nearly 80 points. Congratulations to the followers who kept up with the strategy!

Later in the session, it oscillated around 4800 and repeatedly tested the 4786 level, but has not broken a new low so far. I mentioned yesterday that if the 4800 level breaks, it is very likely to move toward the gap below 4750, and currently, the 4-hour death cross is still above the zero line, so the opening today will most likely continue to be choppy.

But judging from the current market strength, the bearish force is not very strong. Even if it continues to decline, it is not enough to support the price reaching below 4700 to lower levels, so intraday it may still be possible to try bottom fishing.

Recommend opening around 4820 with a choppy stance, with a stop at 4832, targeting 4780-4760, do not be greedy.
If it stabilizes near 4750 during the decline, then do range trading around 4730-4750, with a stop at 4720, targeting 4820-4850, and if it breaks through, continue upward to 4870-4900.

This article is only a technical analysis and personal opinion of the market, not investment advice. All trading decisions should be made by investors independently and at their own risk.
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