$PNUT

From the data, it can be seen that the pnut main force has started to open long positions today, with an increase in open interest of 45m, and the main contract has also seen an influx of 43.65m. This rebound from the bottom is no longer just a short squeeze, but rather a genuine long position opened by the main force.

From the K-line perspective, the overall trend during this period is basically consistent with our initial predictions, which is that it is oscillating and consolidating within a large box, making room for accumulation and retail trading. It can still be treated as pnut oscillating within the box.

The current situation is more optimistic than it was a couple of days ago. The price range of 1~1.04 here should be the consensus bottom price formed in the short term. Unless this price is strongly broken, the worst-case scenario will still maintain this bottom oscillation trend. Of course, apart from the K-line, the data is more important. If there is another test of the bottom here, we need to observe the open interest and inflow/outflow situation, to see if there is a significant change in open interest and inflow/outflow. If not, it could be another violent washout, presenting a good opportunity to buy at the bottom. If the main force's positions are running away again, then we should just wait and see.