November 2 (Gengchen) | Bearish | Weekly close held above 77.5k · Watching for a rebound to meet resistance
This week, I’m watching for the weekly close on Monday morning, 11-09. The previous candle just closed at 78,312, still about 1% above 77,500. The key line held this week.
Price is around 78.6k (Beijing time, 09:28). Yesterday’s rebound reached 78,385, just shy of 78,425. Around here, I’d rather not try to catch a bottom. If you want to go short, wait for another push up to 78.4–78.8k that fails, or for the daily or weekly chart to fall back below 77.5k before acting.
The broader picture hasn’t changed: the double top overhead is still at 87,380 / 86,650; the add-to-shorts zone remains 83.5–85k, still far above the current price. The breakdown below 80,000 was confirmed long ago, so just treat it as background. The key this week is whether the next weekly close can hold above 77,500. If it does, expect more sideways movement for now; if it really breaks, raise the alert level and look toward 76.3k and 75k.
Frost’s Descent has passed, and Beginning of Winter is on 11-07. This week marks the change to the Hai month, so a turn in the market is more likely around this time. The current price is about 1.4% above 77.5k—slightly more breathing room than last week, but that still doesn’t mean it’s time to catch a bottom.
The invalidation rule is the same: the weekly chart reclaims 87,380.
This is just my personal take based on traditional Chinese metaphysics, for reference only. Follow me for updates. This week, are you watching more closely to see if 77.5k holds, or for a break below it and a move toward 75k?
This week, I’m watching for the weekly close on Monday morning, 11-09. The previous candle just closed at 78,312, still about 1% above 77,500. The key line held this week.
Price is around 78.6k (Beijing time, 09:28). Yesterday’s rebound reached 78,385, just shy of 78,425. Around here, I’d rather not try to catch a bottom. If you want to go short, wait for another push up to 78.4–78.8k that fails, or for the daily or weekly chart to fall back below 77.5k before acting.
The broader picture hasn’t changed: the double top overhead is still at 87,380 / 86,650; the add-to-shorts zone remains 83.5–85k, still far above the current price. The breakdown below 80,000 was confirmed long ago, so just treat it as background. The key this week is whether the next weekly close can hold above 77,500. If it does, expect more sideways movement for now; if it really breaks, raise the alert level and look toward 76.3k and 75k.
Frost’s Descent has passed, and Beginning of Winter is on 11-07. This week marks the change to the Hai month, so a turn in the market is more likely around this time. The current price is about 1.4% above 77.5k—slightly more breathing room than last week, but that still doesn’t mean it’s time to catch a bottom.
The invalidation rule is the same: the weekly chart reclaims 87,380.
This is just my personal take based on traditional Chinese metaphysics, for reference only. Follow me for updates. This week, are you watching more closely to see if 77.5k holds, or for a break below it and a move toward 75k?
