The large pancake has continued to fluctuate and consolidate over the weekend, correcting the previous decline caused by tariffs. Although the hourly MACD has turned positive, it remains below the zero line, and we need to pay attention to its sustainability.

Therefore, I personally believe that as long as the rebound does not exceed the 109200 position, it will still be in a fluctuating downward pattern. However, if this position is broken, a new round of upward movement will begin, and adjustments will need to be made in a timely manner.