Analysis on the evening of July 21

On the hourly chart, the recent candlestick fluctuations and pullbacks are very obvious, especially when it surged to around 119720 during the day, the sense of pressure is particularly prominent, and several attempts to break through have not been able to hold.

Observing the recent candlestick patterns, the closing price has consistently been lower than the opening price, and the upper shadow is very long. Behind this is actually a dominant selling pressure; every time the price tries to rise, it always encounters concentrated selling pressure.

The current market is in a generally strong oscillating state. Next, we can focus on the lower Bollinger Band at the level of 118200. As a key short-term support level, success or failure here is very important: if it holds, there may be a rebound; if it breaks down, then the adjustment space may need to be looked at on a larger scale.

The big pie revolves around the target of 19500 near 118000-117800.
The secondary targets around 3780-3750 are focused on 3880.