Monday Big Cake Morning Outlook Still Maintains a High-Altitude Position

A new week has begun. First of all, I wish you smooth sailing and steady progress.

After experiencing a rapid dip yesterday, the market has been repeatedly choppy and consolidating at low levels. In the early hours, Big Cake briefly bounced back to around 71,400, but it was put under pressure again and fell back to around the 70,400 area. From the short-cycle structure, the bears have already gradually taken the upper hand. Friends who maintained short positions earlier can also say that this wave has paid off.

Looking back at last week’s price action, after Big Cake found stability around the 70,400 line, it moved upward with fluctuations, until early yesterday morning it surged to around 73,700 and met resistance. Then the bears stepped in with increased volume, and the price kept falling all the way. It is now back in the earlier breakout-and-rise area.

Next, focus on how the 70,000 level support performs. Once it is broken effectively and cannot be reclaimed, the downside space will be opened further; if this level can be held, then you can consider a short-term rebound opportunity.

In the morning, still refer to placing short positions around 71,500. The target to start with is the 70,000 area. If it breaks, then follow through by looking down toward the 68,000 region.
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