In the early phase, the price quickly dropped from the stage high of 71,423.9, dipping as low as 70,458.2, and then started a range-bound rebound. However, this rebound is a corrective rebound within a downtrend. The price has repeatedly tested the 71,100-71,200 resistance zone but has never managed to break above the previous high, which shows that sell pressure overhead is heavy, bullish momentum continues to be consumed, and the upside space is extremely limited. Going forward, it is highly likely to return to the downtrend channel.

For entries, prioritize placing short positions in the 71,150-71,200 range. If the price spikes up to the vicinity of the previous high at 71,300-71,400, you can add to the position to short. The first target is 70,900-70,700. After reaching it, close half the position to lock in profits. The second target is 70,700-70,400. If it breaks down, you can hold for the next round of decline. #原油小幅上涨