The hourly K-line of the Shanghai Composite Index still has upward momentum, and the previous high is still a huge pressure level.
Shanghai Composite Index weekly K-line, after a strong V-shaped rebound that began in late April, last week’s K-line showed signs of rising and weakening.
In summary, the Shanghai Composite Index has a false breakthrough and will continue to consolidate until a clear signal appears; the MA200 above is under great pressure, and 3400 is a relatively high level, which may be difficult to break through; however, the K-line shape is slightly beneficial to the bulls, and it is difficult to fall sharply in the short term. However, judging from the large K-line structure, there may be an adjustment after the consolidation.
