The technical outlook is slightly bullish in the short term, but caution is needed for a high-level pullback, with a neutral fundamental outlook. It is recommended to wait for a clear breakout above 106,623.5 to follow the trend, with strict risk control.

Entry conditions:

Long position: Price breaks above 106,623.5 (previous high) and closes above on the hourly chart, target 107,884.2 (bear liquidation 2).

Short position: If it drops below 105,409.7 (turtle exit price), take a short position, target 104,982.0 (support level 2).

Position management:

Main position (70%): Pursue long after breaking 106,623.5.

Hedge position (30%): Hedge when it drops below 105,677.0 (15-minute stop loss level).

Risk control:

Stop loss: Long position at 105,677.0, short position at 106,623.5.

Take profit: Long position at 107,884.2 (2:1 risk-reward ratio), short position at 104,426.8 (1.5:1).