From the hourly chart level, the market shows a continuous downward breakout trend, with a continuous bearish pattern. Overall, the 117000 level has become a key support level, and it is also a potential turning point for this wave of market movement. If the corrective trend fails to extend effectively, a recovery of the bullish trend will become inevitable. It is worth noting that after multiple tests of this range during the short-term pullback, there has been no effective breakout, indicating that the bulls are still continuing to exert strength, and the trend of reclaiming lost ground has become quite clear.