7.27 Big Pie Afternoon Market Observation

After the afternoon saw a modest push higher into the 65,300 range, the rally lacked follow-through; price has been unable to sustain momentum and has remained above 65,000, trading in a tight sideways range. The market is waiting for interest-rate-related news later in the evening. Inadequate incremental funds within the venue mean that as prices rise, sell pressure gradually becomes apparent. The upside room for a short-term rebound is limited, and the overall market keeps churning through repeated shakeouts.

In the short term, the suppressing range is 65,500–65,800, with 66,300 as the key phase of strong resistance. Key supports on the downside are 64,800 and 64,300. Buying support near the lows is still acceptable; as long as there is no effective breakdown below the prior consolidation-and-repair structure, the structure remains unchanged.

Afternoon reference ranges:
1、For the rebound, 65,500–65,800; hold defense above 66,100; targets are 64,800 and 64,300;
2、For the pullback, 64,300–64,800; hold defense below 64,000; targets look toward around 65,500.
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