Yesterday, the large pancake had a big bullish candle, breaking through the previous consolidation range, and after reaching around 110600, it began to retreat. It was also mentioned yesterday that after breaking 108800, it would not be wise to stay long, and this was effectively validated during the session. Currently, although it is still in a volatile trend, there are signs of weakening upward momentum, entering an adjustment phase.

From a short-term perspective, a "bullish engulfing" pattern appeared in the morning, but the recent three consecutive bearish candles formed a "black three soldiers" pattern, indicating a further pullback to digest previous gains, with expected support around 109000. It is necessary to be cautious about whether the price will break below the key support level, triggering a deeper adjustment. Conversely, if it can hold the support level and re-test the resistance level, the price may enter a seesaw-type consolidation.

Therefore, currently, the aggressive target is 110200 for a small pullback, with attention on the support situation at 109000. At this moment, one should not blindly chase the volatility.