Morning Trend | CHINA RES GAS main force on the sidelines, can it hold 20.80 yuan during the session?

China Resources Gas (1193.HK) has recently been troubled by multiple pressures, oscillating around the key support level of HKD 20.80 yesterday. The overall market shows that the strength of the bulls has weakened, with main funds focusing on reducing positions and risk aversion, leading to intensified selling pressure towards the end of the trading session, bringing new challenges. The gas industry is focused on the decline in international raw material prices and seasonal fluctuations in gas demand in the mainland, which have limited effects on stock price incentives. There are no substantial positive factors in the sector, and leading companies are generally "lying flat," with main hot money attempting to switch to emerging growth areas. Any brief rebounds during the trading session were quickly sold off, reflecting a weakened willingness of speculative funds to cluster, with rapid rotation of hotspots. The short-term technical pattern remains dominated by bears, with the K-line combination weaker than the market average, and resistance repeatedly verified near important moving averages. In the vacuum period of industry news, the lack of driving factors such as equipment factory orders makes it difficult for the gas and related sectors to sustain performance. Main funds tend to flow back into sectors like consumption and banking, with trading volume still sluggish. The MACD shows a bearish pattern, indicating low confidence in short-term speculation. If HKD 20.80 breaks down with increased volume, it will form a new low for the phase, with technical pressure levels moving down. If it holds steady, there may be a bottoming oscillation to initiate a repair market. Future trading should focus on changes in international raw material news, policy adjustments, and phase fund flows