1.16 Morning Market Analysis

Time flies, another week has passed. Good morning, everyone!

Recently, after the market stabilized, the trend has gradually become steady, continuing the sideways consolidation pattern. The key resistance level to watch is around 97,000, while the support level is repeatedly built around the 95,000 area, forming a clear oscillation zone between the two. Until an effective breakout occurs, short-term trading remains the primary strategy.

Reviewing the movement from last night to early morning, the price tested near 97,100 twice but was resisted and pulled back, indicating significant pressure at that level; after a correction to around 95,100, it quickly rebounded, with solid support. As long as the resistance and support levels are not broken, the market is expected to continue fluctuating within this range.

From a technical pattern perspective, it is currently in a consolidation phase, with the bullish and bearish directions not yet clear. Operationally, it is recommended to continue observing the boundary of the range, and when approaching resistance or support levels, consider taking advantage of high and low positions accordingly. Patience is advised while waiting for the market to choose a direction.
Trading Suggestions
Buy on dips around 95,100-94,600, targeting 96,500-97,200; if broken, continue upward to 98,000.