The pancake has shown a strong posture today, breaking through the resistance level of 108.5 with a peak rise to 109.7.
The core issue now is whether it can stabilize at this high position—after a liquidation at the high, short-term pullback pressure is gradually increasing.
For those who are trapped in short positions, the gains and losses at 108,500 are crucial; if it falls, it may trigger a deeper pullback.
On the daily chart, if it can hold the current price level, there is hope for a challenge towards new highs, with attention needed on the major resistance levels at 110.5 and 111.
At night, it is important to closely monitor the support performance at 108.5;
If it holds, there may be a breakthrough opportunity towards 110.0;
If it breaks down, attention should be paid to the support strength at 107.6 and 105.5.