Strong rebound after a sharp drop! The 4680 level is under pressure and meets resistance at the 4680 area; the market is moving in a choppy downward trend, currently trading around 4649.

Last night’s weak non-farm data triggered a sharp short-term selloff. After the opening this morning, price first edged higher and then tested the 4670-4680 range, where it met resistance and pulled back. Overall, the market shows a “spike up then fade, followed by weakening in consolidation” repair pattern. Bearish battles dominate the chart, and 4680 is the key line of defense for shorts in the near term.

Bearish signals dominate on the technical side: the MACD fast and slow lines remain below the zero axis and continue a dead cross downward; the green momentum histogram bars keep expanding. The Bollinger Bands are opening downward, and price continues to be pressured below the middle band; the bearish trend has not changed, and upside rebound potential is limited. However, near-term support is concentrated in the 4600-4620 area, so there is a technical short-term pullback/relief rebound demand.

Specific trading advice: watch how price handles the resistance zones 4665-4685 and 4735-4755 above. If levels are reached but not broken, you can try selling short from higher levels. Target 4625 and 4600 below. If 4600 breaks, continue looking lower to 4575, 4540, and 4500
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