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7.16 Wednesday Mr. Zhao's morning market update:
The midnight market fell to around 116000 from near 117700, then rebounded to around 117900, and is currently near 117600.
The midnight market continued to rise to around 3096, then fell back to around 3028, and rebounded to around 3140.
The daily K-line shows an inverted shadow, with a shrinking volume. Pay attention to the support around 115500-114500 below, and the secondary support around 111500. The four-hour bearish volume is shrinking and showing a bullish trend. Watch for resistance around 118500-119000 above, and support around 115200-114700 below. On the hourly level, the bullish volume is increasing but facing pressure, showing a bearish trend. Watch for resistance around 118000 above and support around 117000-116000 below.
Morning:
Pull back to around 117000-116500, then look towards around 118500-119000. Conversely, it can drop.
If it retraces to around 3115-3090, look towards around 3160-3200; otherwise, it may drop.
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