After touching the recent low of 2864.29, the price has rebounded to 2952.18, stabilizing above the lower band of the Bollinger Bands, with the lower band forming effective support. In the MACD indicator, the DIF line is turning upward and approaching the DEA line, with the green momentum bars continuing to shrink and the red momentum bars beginning to appear, indicating that the downward momentum is weakening and the rebound momentum is accumulating.
Consort's Trading Suggestion: Pull back near 2940-2900, aiming to rise towards 3000-3100.
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January 24 Consort's Thought Process
After touching the recent low of 2864.29, the price has rebounded to 2952.18, stabilizing above the lower band of the Bollinger Bands, with the lower band forming effective support.
In the MACD indicator, the DIF line is turning upward and approaching the DEA line, with the green momentum bars continuing to shrink and the red momentum bars beginning to appear, indicating that the downward momentum is weakening and the rebound momentum is accumulating.
Consort's Trading Suggestion: Pull back near 2940-2900, aiming to rise towards 3000-3100.