Yesterday, after a surge and subsequent drop, the market has been fluctuating around 96000, forming a consolidation range. The high point of 99950 and the low point of 95100 from yesterday constitute important resistance and support levels.

Currently, the MACD is in the negative territory, with both DIF and DEA diverging downwards, indicating strong bearish momentum in the short term.

Looking at the EMA, the three lines are in a bearish arrangement, and the short-term trend still appears to be bearish.

Therefore, today's operation still relies on the short-term EMA120 at approximately 97100 as resistance, expecting a downward movement towards the lower point of 95100 and the 94000 level. If it continues to break down, we may see it drop to around 93200!

Conversely, if it breaks above the 98500 level, the upward space will be reopened, with at least a target of around 100000 or even 101000 above!