August 26 Pancake
The pancake once again dipped to around 108500 this morning before starting to rebound. Although the rebound strength is limited, the four-hour chart shows that the bottom area has been reached, and it is expected that the daytime period will mainly focus on a corrective range.
From a technical perspective, the three lines of the Bollinger Bands are showing a synchronized upward divergence, indicating that the market is currently in an uptrend dominated by bulls. The upward structure remains intact, and the bullish trend is still strong.
One can go long in the 108500-109000 range, targeting 113000.
