CL Crude Oil Analysis

The Bollinger Bands are expanding downward overall, with the upper band at 103 and the middle band at 99 both turning downward in sync.
Prices have been continuously suppressed by the middle band after a large-volume drop from a high level, with the middle band shifting from support to strong resistance.
Currently trading in the mid-lower band range, the bearish trend is clear.
This round started with a volume-driven decline from the 104 high point, with a series of large bearish candles breaking through key support levels, indicating concentrated bearish momentum.
Subsequently, it only consolidates with small candles and volume, with weak rebound candles showing minimal upward strength and no new buying interest, typical of a weak correction in a downtrend, not a sign of a reversal.
The key resistance above is locked at the Bollinger middle band of 99; if the rebound fails to break this level, the downtrend will continue.
The first support below is the previous low at 96, with strong support at the lower Bollinger band of 96.
Once volume breaks below this level, a new downward space will open.
Overall, the technical outlook is dominated by bearish signals, with short-term rebounds used for shorting, so avoid blindly bottom-fishing.
Trading suggestion: 102-105 range, target 95-90.