WTI Falls Below $90! Crude Oil Bulls Turn "Chives King" Overnight, Market Begins Large-Scale Blame Game

After WTI crude oil drops below $90, the market atmosphere suddenly feels very much like the day before a company layoffs.
Everyone knows something's wrong, but no one is willing to admit it first.
The first to break their defenses are the crude oil bulls.
A few weeks ago, they were still shouting in social circles: "The energy super cycle has arrived!"
Now, with a turn of the K-line, account profits have shifted from "treating friends to dinner" to "picking a bargain on Pinduoduo."
The cruelest part of the financial market is:
It never gives people a stepping stone.
And this round of oil price correction, on the surface, is just price fluctuation, but essentially, it’s the global capital starting to worry about economic slowdown.
Previously, the market kept betting on the recovery of global demand, believing that high interest rates wouldn’t really hurt consumption.
But the reality is increasingly resembling:
Wages haven't increased much, but prices have been rising steadily.
American consumers are starting to cut back on spending, European corporate orders are recovering slowly, and manufacturing prosperity hasn't experienced a super breakout.
So, the market suddenly realizes:
"Actually, it's not that everyone is afraid of high oil prices, but that everyone is about to break down."
In that moment, the faith of the bulls begins to waver.
The most interesting thing is, every time crude oil prices plummet, a large number of "technical analysis masters" appear.
Some draw trend lines;
Some count waves;
Some predict oil prices based on lunar cycles.
But what really influences the market are often those few old factors:
Dollar, demand, geopolitical issues, and production cuts.
Especially recently, the dollar has been relatively strong, putting obvious pressure on crude oil.
Because the stronger the dollar, the higher the cost for other countries to buy oil, and demand naturally gets suppressed.
However, bulls are not completely out of luck.
Because when oil prices fall too sharply, OPEC+ is likely to continue controlling production. For many oil-producing countries, oil price is not just a number, but their fiscal lifeline.
So now, the market is in a very funny state:
Bears worry about production cuts;
Bulls worry about demand;
Retail investors worry about margin calls.
And Wall Street loves this kind of chaos.
Because the more chaotic it is, the greater the volatility; the greater the volatility, the more trading opportunities.
Many newcomers think crude oil is just a "commodity."
Actually, it’s more like a temperamental character in the financial world.
Happy times, it rises 5% in a day; unhappy times, it plunges straight down.
So, if ordinary people really want to participate in crude oil trading, they must remember one thing:
Don’t fall in love with crude oil.
Because it turns its face faster than trending topics on short videos. #WTI原油失守90美元