Global high interest rate expectations are heating up again, putting risk assets under pressure. CL, as a high-volatility instrument, is bearing the brunt; in my view, the short-term has entered a pullback-and-confirmation phase, and the rebound momentum is clearly weakening. A 24-hour drop of 4.3% has pushed the price down to 93.22. Trading volume of 8.836 million indicates that selling pressure has truly been released. The funding rate returning to zero suggests that long leverage has been cleaned out. Open interest at 487k has not collapsed, and shorts here also don’t dare to over-add. The hourly chart is running along the 92.66 low, while 97.74 has become a near-term strong resistance. The top ten buy orders are 65k versus sell orders at 70k, with a ratio of 0.93—sellers still have the upper hand, so any rebound is likely to be short-lived. Strategically: if it retraces back up to 94.85, you can cautiously try a short with a light position; set the stop-loss at 95.83 and the target at 91.42. If it breaks above and holds over 94.85 on increased volume, then exit and stand aside to observe. Keep single-trade position sizing within 2% of total capital, and apply strict stop-losses—no holding through losses.

——Only for personal views and does not constitute investment advice. Wishing you a successful trade.——

$CL#Global high interest rate expectations heat up further