Auntie's Morning Technical Analysis

The daily chart shows that the recent trend is clearly downward, with large bearish candles on February 15 and February 18, indicating heavy selling pressure and dominance of the bears.

The 1-hour chart indicates that after a volume-driven decline, the price is currently finding short-term support around 1923.78 and experiencing a slight rebound. However, the rebound momentum is insufficient, and it has not effectively broken through the resistance above.

The previous wave high points at 2010.3 (1-hour chart) and 2039.05 (daily chart) form strong resistance zones above, while the previous wave low at 1923.78 (1-hour and daily charts) constitutes a key support level below.

MACD: On the 1-hour chart, the MACD DIF and DEA are both below zero, with the DIF below the DEA. The MACD histogram is negative and continues to expand, indicating a strong bearish trend with no signs of reversal in the short term.

RSI: The 1-hour RSI(14) value is 41.29. It previously touched the oversold zone and rebounded slightly but remains below 50, suggesting the overall market remains weak, with insufficient rebound momentum and no trend reversal yet.

EMA: On the 1-hour chart, the price is below the EMA7, EMA30, and EMA120 lines, which are arranged in a bearish order (EMA7 < EMA30 < EMA120), indicating short-term, medium-term, and long-term trends are all downward. The EMA30 (1973.88) and EMA120 (1993.51) form important resistance levels above.

The daily chart shows that the declines on February 15 and 18 were accompanied by high volume, especially on February 15, with a volume of 834,778, confirming strong market selling sentiment and a downward trend.

During the recent decline on the 1-hour chart, volume was relatively high, but the current rebound from the low point is accompanied by shrinking volume, indicating that the downward trend is confirmed by volume, while the rebound lacks buying support and may just be a technical correction during the decline.