7.6 Monday morning big 🫓 thoughts: intraday first go short 🈳

The new week is here again—good morning, everyone. Wishing you all great luck! During the weekend, the overall trend was mainly range-bound with an upward bias. As of now, the high has reached around 640. The slow, steady grind also caused some trouble for 🈳 during the weekend, but as long as you’re not greedy, this kind of trouble can be avoided. At the moment, the big 🫓 is above 630.

On the 4-hour chart, after the early dip tested the 577 support, the smaller timeframe formed a V-reversal pattern. As the Bollinger Band turns upward, the short-term momentum is showing strong bullish strength. It’s worth noting that this upside move has not broken through the key resistance. Overall, it’s still just normal consolidation and rebound after the sell-off. Going forward, the key focus is whether 640 can hold. If it holds, then move with the upward momentum; if it can’t hold, then expect pressure and a pullback.

Morning reference: 🈳 around 640. For the short-term, watch 630-624. If the price reaches the target area but doesn’t continue, then reverse and go short 🈳 directly.