August 17 news
Trend Direction Conclusion: Range-bound. Reason: The three moving average differences have not shown a completely consistent direction of change; only the 10-day moving average difference has shown an upward trend, while the 5-day and 20-day moving average differences have remained unchanged. This does not meet the criteria for a clear trend, so the price is in a short-term range-bound pattern. Additionally, the price is in a low range, providing some resistance to further declines. Here is the detailed analysis:
1. Average Difference Change Table
2. Signal status determination
Oscillation (resilience warning, bullish bias). The three average differences do not all move in the same direction; only the 10-day average difference has increased from yesterday, while the 5-day and 20-day average differences remain stable. Combined with the characteristic of prices being at a low level, this is consistent with a resilience warning and a bullish signal.
3. Trend Direction Conclusion
Oscillation. Reason: The three average differences did not show a completely consistent direction of change; only the 10-day average difference showed an upward trend, while the 5-day and 20-day average differences remained unchanged, which does not meet the criteria for a clear trend. Therefore, the price is in a short-term oscillation phase. At the same time, the current domestic market capacity utilization rate has slightly decreased month-over-month, and inventory has increased, but the price is in a low range, providing some resistance to further declines.
4. Position Space Reference
1 year cycle price is at a low level, with limited room for decline; the 60-day cycle is also at a low level, and the 3-month cycle is at a medium-low level. Overall, the price level is relatively low, providing strong support against further declines. If downstream procurement demand picks up, there is potential for a rebound.
5. Trend Chart Display
6. Risk Warning
The above analysis is for reference only and does not constitute trading advice.
