This rebound is quite strong, but I am not optimistic about its sustainability. Whether it is linked with the U.S. stock market or gold, there are no direct conditions for breaking new highs. The Federal Reserve has not clearly signaled to release market liquidity.

This wave has already pulled back significantly from its high, but the time is still not sufficient. More consolidation time is needed to digest the profit-taking and trapped positions. Therefore, above 90,000, the focus should still be on risk control. If it can surpass 100,000, there may be new upward space.