It has risen, but foreign capital from the U.S. hasn't moved yet—boring!
This rebound starting from 85,000 is mainly driven by Asian capital. Since the 19th of last month, Asian investors have been propping up the market and pushing prices higher. But it still hasn't broken through, because the U.S. market hasn't fully resumed operations yet!
Look at the chart—the line for U.S. capital is still weak, as they've just come back from Christmas and are still closely watching the Federal Reserve.
Recall March of last year—wasn't it the same? Asian capital took the lead, then U.S. capital rushed in, and together they ignited that strong rally.
So right now, even though we can rise, we can't soar high. The upper resistance, especially around 117,000, is hard to break through without the buying power of U.S. capital.
Therefore, at best, this is just Asian market preheating. The real directional choice depends on when U.S. capital enters. Every U.S. inflation report and every Federal Reserve speech could be the switch for the market.
The market is waiting—and you should wait too. If you want a more accurate view of capital flows and key levels, feel free to contact → 扫码进聊天室. Rong Jie will help you understand capital movements and seize the market opportunities.