Yellow Fish consolidating at high levels, bearish dominance eyes the 4600 level

Gold Digger Old Cat
April 7, 2026, Morning
There are no eternal bulls or bears in the market; only following the trend can lead to steady and long-term success.
During the Asian trading session, the yellow fish price hovered around 4654 with narrow fluctuations. The current quote is 4654.50, up slightly by 0.10% from yesterday’s close. The intraday trading range remains between 4653.32 and 4667.98, showing a general sideways consolidation at high levels.

From the 1-hour technical perspective, the Bollinger Bands are narrowing and flattening, with the current price closely hugging the middle band at 4667.91. Support is at 4635.76, and resistance is at 4700.05. The price is under pressure below the middle band, indicating a clear short-term consolidation pattern. Regarding the MACD indicator, the DIFF and DEA lines are close together near the zero line, with the red histogram steadily shrinking toward zero, showing that the current bullish and bearish momentum are highly balanced. The upward momentum is weakening, and the bearish force is gradually accumulating.

Considering the current structure, after a previous rally to 4800.46, the price entered a deep correction. It is now in a phase of oscillatory recovery following the decline, with the overall major trend still favoring a high-level short position. For intraday trading, focus on the 4668-4670 zone around the middle band for resistance. If the price cannot break through effectively, consider short positions targeting the 4635-4620 zone. A break below could further target the 4600 level. Conversely, if the price retraces to support around 4635-4630, a small long position can be attempted with targets at 4660-4665, taking quick profits and losses. The overall strategy remains primarily bearish with supplementary long positions, strictly controlling position sizes and managing risks.

The above analysis reflects personal opinions only and does not constitute any investment advice. Market conditions change rapidly; trading should be adjusted based on real-time market dynamics. Investment involves risks; trade cautiously.