The market observation notes for December 1st at noon have arrived.

Let's talk about pancakes first:
Keep a close eye on the position 87380; if the hourly candlestick closes above it, you can enter a long position on the right side, but don't forget to run if there's a pullback. If 86546 breaks with volume and the rebound can't go up, then reverse and go short, and remember to set a stop-loss, don't hold on stubbornly. There might be trouble at 85631 — if there's a false dip and it comes back, then take a long position; set the stop-loss at the low of the false breakout or 84717. If it doesn't recover, be careful not to get greedy.

Hourly level gameplay:
Stand firm at 87502, then watch the range of 88271 to 89222. If it can't get above 87502, don't expect a rise. For short sellers, pay attention to the position at 88306; if a 2b false breakout occurs, go for a position, but if it holds above 89230, admit defeat. Conservative traders can wait for 84193 to add more, and cut losses if it breaks below 83431.

To be honest, with this kind of drop, any support is just paper thin. After the triangle is broken, the key level to watch is 86063. If it can hold here, there is still a chance for consolidation and it won’t continue to plummet; but if it is directly broken through, the most reliable support below is only 83517.

Worse yet, if 86063 is breached, the entire move from this position to 93000 will be invalidated. If 83517 can't hold either, a second retest of 80,000 will be unavoidable. If 80,000 holds, we could still see a double bottom consolidation before a rally; if it breaks, I really don't know how far it will slide. This high-level order restoration is indeed quite skillful.

Resistance levels: 87502 / 88271 / 89222
Support levels: 86063 / 85188 / 83517
On the four-hour level, if 86066 breaks, it will drop to 85188 and then to 83517.

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Chat again, concubine:
If 2833 breaks out with volume, follow on the right side and set a stop-loss if it pulls back. If 2817 breaks down with volume, go short and set a good stop-loss.

If it confirms support by pulling back to 2759, then add one more position. Cut if it breaks below 2715. If the hourly line stabilizes above 2859, we can see 2904 or even 2950. Pay attention to the 2904 level above; if it reaches there, go short one position, and set a stop-loss if it breaks 2950. Aggressive left-side orders can place a long at 2706, and exit if it breaks 2672.

Resistance levels: 2859 / 2904 / 2950
Support levels: 2763 / 2713 / 2672
If the four-hour level breaks 2813, then watch for 2779 to 2727.

The hourly bullish trend line has been broken. If 2782 is broken again, the bullish structure within the yellow box will also be damaged. If 2728 cannot hold, it will have to test the previous low around 2620 again. Unless it can return to operate above 2870, it will not stabilize and stop falling.

That's it, the meeting is adjourned.