Regarding the trend analysis of the pancake, today we focus on the bottom support level of the horizontal range at 96300. As long as the price does not effectively break below this point during the pullback process, even if there is a small-level adjustment, there is still a high probability of continuing the upward trend. On the upper resistance level, we can first pay attention to the top of the horizontal range at 97390; if successfully broken, further resistance zones are around 98500, 99400, and 100370.

Conversely, if today's 4-hour candlestick closes below 96300, the 4-hour level will enter a pullback trend. At that time, the important support levels below are 95300, 94110, and 92845, and investors should closely monitor the strength of support at these key price levels.