No need to guess the rise and fall of the big cake anymore!!

The long positions in both spot and contracts have basically taken profit around 99600. Currently, the naked K shape is not suitable for any operation.

At the 4-hour level, it is currently at the neckline position of a W bottom, suppressed by the strong resistance level of 99800 on the daily chart. We need to see the intention of the main force to break through this position. If it breaks the neckline, we can look at 103600-106000.

At the daily level, a head and shoulders top pattern has already formed. If it cannot effectively break through 99800, it will reopen a round of decline, targeting 89000-90800.