The current market trend shows obvious signs of weakening after a significant high-level stagnation. The price has continuously retreated after rising to the 110600 level, forming a typical head and shoulders pattern. It has now fallen below the middle band of the Bollinger Bands and stabilized near the lower band, with short-term bearish momentum starting to dominate. The K-line has continuously closed in the red, and the rebounds are weak, indicating insufficient confidence among bulls. There is a high probability of continuing the downward trend in the short term, and an overall bearish pattern has formed. It is recommended to focus on short positions during rebounds.