The pancake quickly pulled back to around 119,000 after touching 118,000. The daily line has held the support at 118,000 for three consecutive days, forming a 'Doudou Guarding the High Ground'
If the CPI data is favorable and breaks through the resistance at 120,500, it will trigger a short squeeze, potentially breaking through 122,000 to 125,000
If it loses 118,000, it will further test the lower support, and if 117,500 is lost, it will trigger technical selling, with a deep correction to 115,500 to 113,000 (institutional accumulation area).
