8.26 Big Pancake Chart Analysis
After the rebound, watch the 791–796 range for potential selling/picking-off opportunities at the top; the key protection level is 803; observe the 780–770 range.
After the price made a new high around the 812 level, the chart consecutively formed adjustment candles, with the highs continually moving lower and the lows also trending down. In the short term, a clear pullback and adjustment structure has already formed, and the chart’s “uplift head” (upper dominance) strength is in the lead.
Earlier, there was a rapid rally and the price moved far away from the short-term moving averages. Technically, there is a need to revisit and repair the deviation from the moving averages. The current pullback pace is still ongoing. There is still room to move downward toward the mid-term moving average at 770, with momentum for a further dip to test support.
After the rebound, watch the 791–796 range for potential selling/picking-off opportunities at the top; the key protection level is 803; observe the 780–770 range.
After the price made a new high around the 812 level, the chart consecutively formed adjustment candles, with the highs continually moving lower and the lows also trending down. In the short term, a clear pullback and adjustment structure has already formed, and the chart’s “uplift head” (upper dominance) strength is in the lead.
Earlier, there was a rapid rally and the price moved far away from the short-term moving averages. Technically, there is a need to revisit and repair the deviation from the moving averages. The current pullback pace is still ongoing. There is still room to move downward toward the mid-term moving average at 770, with momentum for a further dip to test support.