April 9th Morning Analysis

From the market perspective, the current price is 71,420.1, effectively breaking below the 7-period moving average (71,448.9). The 30-period moving average (71,378.4) provides only weak support. Short-term moving averages are turning downward and forming a bearish arrangement with medium- and long-term averages, indicating that short-term bullish momentum has been completely exhausted, and the market has fully entered a bearish dominance phase. After a previous surge to 72,858.5, the price quickly fell back, creating a waterfall decline, with the lowest point reaching 70,671.6. The subsequent rebound has failed to break the previous high, representing a weak rebound within a clear downtrend. The lack of strength in the rebound is a key signal that the bearish trend will continue.

Bollinger Bands (BOLL): Bearish channel is open, downward space is clear

The Bollinger Bands indicator currently shows an expanding opening that is now contracting. The upper band (71,837.2), middle band (71,421.0), and lower band (71,004.9) are all trending downward. The price is currently under the middle band, indicating that in the short term, the price is in a bearish zone below the Bollinger middle band, which has become a strong resistance level. The price has tested the middle band multiple times without effective breakthroughs, further confirming the dominant bearish position. If the lower band of the Bollinger Bands opens downward again, it will officially signal the start of a new round of decline.
Trading suggestion: 71,800-72,500 range, target 70,800-69,300.