1. Analysis of the Morning of the 19th

Today’s rapid decline is essentially driven by emotional selling. The news is quite straightforward—Trump’s tough stance on Europe, and Europe’s collective counterattack. In my opinion, the likelihood of both sides actually escalating to conflict is not high, but the market’s core anxiety has never been about “whether it will happen,” but rather “what the market thinks might happen.”

Looking at the market trend—it's still too early to say it has stabilized. From a technical perspective, the price has been oscillating downward, with each rebound failing to sustain, and the declines becoming more decisive each time. The volatility range is narrowing, making it difficult to form an effective trading space. In this pattern of repeated suppression, bearish signals are already quite clear. Any attempt to go against the trend and buy is likely to be a futile effort, essentially giving away funds in the market.

Trading Suggestions
Short near 92,500-93,000 on rebounds, with targets down to 91,300-90,800. If broken, continue to watch for a drop below 90,000.