The rally last weekend did not break through the resistance at key levels, nor did it maintain the gains after the rally. After such significant fluctuations, we need to be wary of a new downward phase. The main trading strategy is to sell on pullbacks at high points and to buy low after refreshing the low.

As for the movements on the 30-minute chart and below, after the two-day drop over the weekend, the current situation is definitely a standard bearish structure. Based on the MA30 at this level, we cannot expect much upward space in the short term. Safe trading opportunities will arise after a few repeated attempts here, followed by a new low.

Summary: The larger time frame is still in a contraction structure between bullish and bearish. The key trading points for long and short positions will revolve around the MA30 and MA250 on the 12-hour chart. Due to the breakdown at the smaller time frame, we should not expect much upward movement for now. For long positions, refer to the MA250 on the 12-hour chart for short-term trading, as well as for quick rebounds after a clear breakdown of the MA250 on the 12-hour chart.

Short-term support at 109850~108890 (long for short), second support at 105510~102950 (1:2 can be set), short-term resistance at 115200~116210.