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The price of the big cake has recently fallen, forming a triangular convergence pattern. Before a clear direction is defined, it will continue in a lateral and oscillating movement.

During yesterday's drop, the 104 K line received support. The requirement for a rebound is to establish itself above the 105 K threshold.

When the price rises towards the first resistance zone between 104.8–105 K, do not rush the confirmation of the breakout, first observe if there is enough trading volume and a stabilization situation;

Since the market has mostly been in lateral movement, even if it establishes above 105 K, it is often difficult to maintain the rise, unless a large bullish candle effectively breaks out, otherwise, the idea of oscillation within the range will be maintained.

During the day, 104 K can be considered as key support; if that position is lost again, it could trigger short-term selling pressure; if it falls below 104 K, the downward space may open up to 103.4 K, and the previous support level will also become a resistance level.

Resistance levels: 105800, 105100

Support levels: 104100, 103400

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