Wave Theory Interpretation:
From the perspective of wave structure, the current upward movement that started from 74508 has clearly progressed to the third segment. This segment belongs to the same level structure as the first segment and has broken through the previous key resistance level of 91233, with the second upward target of 96188 continuously advancing; the structural rhythm has not been disrupted, and overall, it still maintains the characteristics of a typical impulse wave. Technically, this rebound is currently facing significant reversal trend line resistance, specifically in the 99064 area. Near this resistance zone, bulls and bears will enter a critical state of short-term contention, and whether it breaks through will determine if this third wave can further extend to the expansion target corresponding to the golden ratio of 1.618. On the other hand, if the green main decline wave from the high point of 109588 has ended, then the current blue upward wave may not only be a rebound structure but could also be the first segment of a larger upward trend. If the green decline wave is confirmed to be complete, according to the cycle window calculation, the next major upward movement is expected to start around June 20, 2025, at which point it will determine whether the current blue wave is the beginning of a complete main rise or merely a corrective rebound within a larger adjustment. Overall, we are currently at a critical breakthrough stage at the trend's critical point, and the depth and extensibility of subsequent structural evolution are worth close attention.