4.23 Morning Big Cake Analysis

The current market has pulled back from the phase high of 79444, and overall has entered a high-level consolidation and finishing cycle after an upward move. In the short term, bullish momentum shows clear signs of exhaustion, and the market has switched from a one-way surge to a stage of bulls and bears competing.

The key resistance above focuses on the 79000-80000 pressure zone. This is both the extension target of this round’s upward trend and the dense trading area of the previous volume-expanded platform.
If the market cannot break out with volume and hold this range, it means that the bullish breakout lacks sufficient thrust. The market will most likely continue the current range-bound consolidation pattern and find it difficult to start a new main upswing.

The core support below needs to be closely watched around 77000. This position is the structural support center of this upward leg and also an important defensive line for the bullish trend.
If this support is effectively broken, it will directly disrupt the upward structure of this rally, shifting the trend from strong to weak, and the room for pullbacks will further open up;
On the other hand, if the support area stabilizes and shows signals of stopping the decline, you can rely on this level to capture the rebound and repair the market.

Trading core: Don’t chase the rally blindly. Use the validity of key levels as the signal and act in line with the trend. Closely monitor the impact of the news and make timely corresponding adjustments.
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