After such a big drop, I actually feel a lot less scared. WTI crude oil futures fell 5.6% in a day to 84.63, just a step above the 24-hour low of 83.46—the sharp drop has released the panic all at once. Now it all comes down to whether 83.46 can hold.
Put simply: this kind of drop is torture for anyone holding long positions. It’s not a slow, steady slide; the price plunged from its high in a single day, leaving no time to react. Sell, and you’re afraid you’ll be selling at the bottom; hold, and you’re afraid there’s more downside ahead.
I’d rather sit tight for now. The drop has been so sharp and relentless that chasing shorts or trying to catch the falling knife here could both get you hurt. But if it breaks below 83.46, I’ll change my mind immediately and accept that more downside has opened up. We can talk about a rebound if it holds.
For those holding long crude oil positions, be honest: are you more inclined to add to your position or get out?
$CL
#原油 #MarketAnalysis
Put simply: this kind of drop is torture for anyone holding long positions. It’s not a slow, steady slide; the price plunged from its high in a single day, leaving no time to react. Sell, and you’re afraid you’ll be selling at the bottom; hold, and you’re afraid there’s more downside ahead.
I’d rather sit tight for now. The drop has been so sharp and relentless that chasing shorts or trying to catch the falling knife here could both get you hurt. But if it breaks below 83.46, I’ll change my mind immediately and accept that more downside has opened up. We can talk about a rebound if it holds.
For those holding long crude oil positions, be honest: are you more inclined to add to your position or get out?
$CL
#原油 #MarketAnalysis