The big pancake needs to truly stabilize above 108500 to have a chance at 109800.
Although there was a brief breakout above 108500 last night, it couldn't hold and fell back again. Currently, it is oscillating in the range of 108500~106,500.
Key positions:
1. 108500 —— Must stabilize to be bullish
2. 106500 —— Falling below may continue the correction
3. 105,000 —— Key support/resistance; breaking below or above can be traded in the direction of the trend, with a favorable risk-reward ratio.
In simple terms: it is currently oscillating between 108500~106500, with 105000 being a key point. If it breaks, trade in the direction of the trend for higher gains and lower losses.
