In the futures market, the current distribution of clearing liquidity presents a balanced situation.

From the market rhythm perspective, it feels like after Christmas, most likely by next week, there will be a strong momentum in the market.

At that time, regardless of whether the market trends upward or downward, it will prompt a large number of futures positions to be cleared, which indeed reminds people of the volatile market from early to mid-year, as both share a quite similar atmosphere and characteristics.

As of now, personally, I would prefer to see the long liquidity in the 86500 area being completely cleared, and then the market breaking through to new highs, as this trend may align more with expectations.

The most undesirable situation would be for the market to get stuck in a small range, repeatedly hovering, making it difficult to establish a clear trending market.

From a short-term analysis perspective, considering the inertial effects brought by the clearing of short liquidity, the price may tentatively touch the 100,000+ position.

However, it is important to note that the bullish trend structure that was originally evident on the 4-hour chart has been damaged during the recent week's pullback.

Based on this, I personally speculate that even if a rebound occurs later, after this wave of rebound ends, the price will likely have to test downward again to seek new support levels or confirm the market bottom area.

Considering various factors and the current market performance, looking back at this segment of the market, it may once again become a long-term market in a large range of fluctuations, continuing the complexity and repetitiveness characteristics of previous market volatility.