After the weekend, the pancake market experienced two days of fluctuations, forming a significant high near 95,000 points, followed by a pullback.

In the last few hours, the K-line chart has shown a downward trend, with a low of 92,961.8, successfully breaking the stalemate.

The current market MACD indicator shows that the bearish forces dominate, with both the fast and slow lines below the zero axis, and DIF and DEA continue to extend downward.

The short-term EMA three-line is also in a bearish arrangement, indicating a short-term bearish trend. However, the RSI indicator is approaching the oversold area around 30, suggesting that a rebound may be imminent.

Therefore, attention should first be paid to the rebound situation in Monday's early session, and then rely on the high points of the 95,400—95,700 range to continue observing the downward trend.

The lower target is in the 93,000—92,300 range, and if it continues to break down, it may touch near 90,000.

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