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Yitai Evening Silk Road
Yitai wants to return to the triangle's internal operation. Falling below makes it difficult to recover, and regaining the triangle's internal operation requires breaking through 2983 first to re-enter the consolidation within the triangle. Only after breaking through 2983 does Yitai have a chance to reach the previous high of 3009 indicated by the yellow arrow above. Standing firm at 3009 will challenge the previous high of 3055.
If it cannot go above 2983, all that is said is nonsense. If the neckline at 2962 is broken downward, the bullish trend marked by the white box will be broken, and it will then move into a correction. Without breaking 2962, it cannot continue to fall. Although it has been slowly rising, look at the volume within the white box below; there has been no volume increase, only decreasing volume during the rise. Do you think a volume-decreasing rise can continue? Without a large volume spike, it’s impossible to sustain the upward trend.
Yitai broke through 2983 with volume to go long, and broke below 2962 with volume to go short. Pay attention to volume changes and prepare your trading plan accordingly.
The secondary pancake on the hourly chart stands firm at 2983, aiming higher towards 3009-3055.
On the 4-hour chart, a break below 2959 targets 2909-2866.
There’s really nothing much to say about the others because it’s been consolidating all along. Be patient and wait for Yitai to show its direction!