Morning Pancake

On the four-hour level, the inertia of the short-term trend remains, and the market is currently in a technical correction cycle. After hitting a low of 109300 yesterday, it gradually warmed up and rose overnight, currently reaching a maximum of 111900.

The overall downward trend remains unchanged; the short-term has seen consecutive uptrends. Thus, the recent downward trend has been interrupted. However, in terms of the strength of the rebound, it clearly cannot change the current weak structure, so the overall direction is still downwards.

In the morning, reference the range around 111800-112300 to look for a breakdown at 110000, with a breakthrough looking further down to 108000.