Last night's pullback just tested the demand zone at the weekend's low. It currently appears that a higher low has formed on a smaller time frame.

At the same time, the 4-hour level has also tested the lower bound of the oscillation channel at the cyan line. Since the support is effective, it can be considered that the market will not directly turn into a bearish trend for the time being;

There is a high probability that a range oscillation between 112k and 120k will begin, but since the price has not yet reclaimed the middle track, the short-term rebound target can only be seen around the middle track at 116.3k.