Bearish momentum is building up, yet a retracement is expected

8月1日

This article follows my previous analysis. As predicted, the bearish black swan pattern has taken shape. The price is now trading below the 66500 support level and continues to fall.

Although I anticipate a break below the neckline of the double-top formation eventually, I'd like to point out that caution is advised.

Refer to the "Momentum Tracker" in the lower panel—bearish momentum (red) is nearing its peak, while bullish momentum (green) and total momentum are nearing their lows. This suggests that a retracement may soon occur, making it advisable to wait for a confirmed rebound before entering new short positions.