The current market experienced an early rally, followed by a narrow-range consolidation. In the final segment, a second test of the high failed, leading to a pullback and continued oscillation. The entire day showed a wide-range, tug-of-war pattern. The daily chart closed with a doji bearish candle, with bullish and bearish forces temporarily balanced, and a lack of clear short-term direction. The four-hour chart has formed a double-pin-top structure, with clear resistance overhead. In addition, the volume in the high region is gradually shrinking, indicating that the willingness to chase price higher is weakening. In the short term, there is a need for a pullback to build up momentum. The hourly Bollinger Bands continue to narrow; price volatility is converging, and the market has entered a typical consolidation and accumulation phase. Overall, from a structural perspective, after the pullback absorbs sell pressure, there is still potential for a further push higher. In terms of trading, maintain a low-long bias and wait to place positions after the pullback hits a key support zone.