BZ short-term long structure is complete. A pullback to support can be used to smoothly set up long positions.
The whole day closed up 3.15%. The trend remains bullish; the short-term overbought condition is only undergoing a slight correction. Support is 74, resistance is 74.25. Going along with the trend, bias is mainly for longs.
Trading plan
• Bullish idea: If 74.00 holds after a pullback, lightly enter longs. The defense level is 73.38. Target is a breakout above the previous high at 74.25, with extended resistance around 74.5.
• Risk control logic: If there is a confirmed breakdown below the 73.38 moving-average support, the short-term long structure is damaged. Pause the long setup, and wait for confirmation in the new range.
• Core idea: As long as the trend has not reversed, focus only on buying on pullbacks at lower levels. Do not go against the trend to short and bet on a correction.
The whole day closed up 3.15%. The trend remains bullish; the short-term overbought condition is only undergoing a slight correction. Support is 74, resistance is 74.25. Going along with the trend, bias is mainly for longs.
Trading plan
• Bullish idea: If 74.00 holds after a pullback, lightly enter longs. The defense level is 73.38. Target is a breakout above the previous high at 74.25, with extended resistance around 74.5.
• Risk control logic: If there is a confirmed breakdown below the 73.38 moving-average support, the short-term long structure is damaged. Pause the long setup, and wait for confirmation in the new range.
• Core idea: As long as the trend has not reversed, focus only on buying on pullbacks at lower levels. Do not go against the trend to short and bet on a correction.