In terms of structure: the wedge convergence within the rising channel, the end of the wedge has formed a rising channel.

Macro: During the interest rate cut cycle, the tapering will stop in December, and then it will be time for easing.
The China-U.S. tariff issue has eased, which is beneficial for lowering inflation and favorable for the Federal Reserve to continue cutting interest rates.
The sentiment aspect currently looks bearish overall, and it feels like we've reached an emotional low point.
So the conclusion is bullish, the key is to hold 106 (the structural level is relatively large, need to observe more)