The analyst expects a potential pullback to 113600 before continuing upwards to a target of 118300, influenced by a local bottom and positive fundamental news. He notes that weekend markets tend to be cautious, so the predicted pullback has a high probability. However, there is a significant imbalance at 113600. The analysis is based on the bottom of the range and a subsequent strong reaction, suggesting a move towards the point of control at 118300. A deeper pullback is likely, potentially reaching the 7-day rolling VWAP at 114300, serving as a conservative price target. The analyst also mentions the market's reaction to Jerome Powell's speech. If the price reaches a failure level around 111549.71 it invalidate the analysis.