Morning Trend | CHINA RES GAS waits for policy changes, where are the signals for sector rebound hidden?

On January 27th, China Resources Gas (1193.HK) maintained a weak pattern throughout the day, with occasional capital movements at the opening, but quickly returned to silence during the day. The main trading volume was inactive, with low-level fluctuations and a gradual downward shift in focus, with 20.80 yuan becoming a key defensive point for both bulls and bears during the session. The utility sector has seen extremely light news recently, with stable gas consumption across various regions and no explosive growth, while related policies are still in negotiation, leading to significant divergence in market expectations. Expectations for industry upgrades and reforms have yet to materialize, and the sector lacks new hotspots or capital catalysts. Mainstream capital positions are gradually decreasing, and the motivation to chase higher prices has significantly weakened, with an operational style primarily focused on cautious defense. From a technical perspective, after the MACD turned green in this round, the bearish pressure has continued to increase, with all short-term moving averages in a bearish arrangement, indicating a weak trading structure. Occasionally, there have been attempts by capital to fill positions during the session, but without accompanying volume, it is difficult to form effective signals to stop the decline. In the future, it is necessary to closely monitor marginal changes in policies and unusual trading activities to capture potential rebound windows. Overall assessment suggests that China Resources Gas is currently in a phase of disorderly fluctuations and defense, with the main force not significantly present. It is recommended that right-side traders continue to observe, focusing on policy event-driven changes and the relationship between volume and price, before making dynamic adjustments to positions, while guarding against the risk of inertia in the market pushing prices down before rebound opportunities arise