Today’s Market

Before the US market opens, let’s update today’s situation again... The previous 77k level was near VWAP, and after taking profit at TP2, it moved up and protected its break-even.
Although here, that removable (taken out) secondary high at break-even has been swept through, there are signs of absorption in both spot and futures (see Chart 3).
But before US stocks open, it’s still a 55/45 situation here, so if it happens, we won’t worry about it.
Just peel off a scalp and keep waiting to squat for the next move...
(An example is yesterday: after taking out a big wave of shorts, it only pulled back a bit, then continued the trend—see Chart 4.)
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Chart 1: The three major gaps for this week that I mentioned yesterday... The one below the 77k level has already been filled today...
Still, there are three potential zones upward...
1, Around 77.5k~78k, make a minor high; (, the range still follows the previous POC + the longs trapped in the 77-78k area mentioned yesterday.
2, SFP above 78.3k...
3, or all waiting for 80k.
Chart 2: The order book can also support this conclusion... Between 78k and 79k, in the spot market there are still plenty of sell orders...
This would also be a potential absorption zone... And when the price gets above 77.5k, the imbalance bands should reappear.
The first low to watch for a long below is under yesterday’s 75.5k, where there’s demand for 75k spot stacking up...