Technical Forecast | RA SILK ROAD (274.HK) had a death cross yesterday, short-term pressure increases for a pullback
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After the market close yesterday, RA SILK ROAD officially showed a death cross on the daily MACD indicator, with the MACD fast line crossing below the slow line. This technical signal is usually seen as a sign of weakening bullish momentum and the beginning of a defensive phase in the market. In the short term, the price has consecutively fallen below the 10-day moving average and is hovering near the 20-day moving average, indicating increasing downward pressure. From the performance on the chart and the technical structure, the characteristics of weakening momentum are quite evident at this stage, and investor sentiment is becoming cautious
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