On Friday, 7.24, “duotou” deflated—suddenly it’s a waterfall-face wash.

Over the past couple of days, it has continued to hold its ground at high altitudes. In the early hours today, the big coin’s low finally dipped to 646. After it had pushed up to 670 and met resistance, there has also been room for a pullback of more than 2,000 points.

In the short term, with the rhythm of a spike up followed by a pullback—and as the strength of the rebound weakens—smaller timeframes are led by a bearish “kaotou.” On the four-hour chart, as several bearish candles retrace, the earlier spike-up move is temporarily coming to an end. Meanwhile, the MACD on the accompanying indicator has a dead cross turning downward, suggesting further extension.

Today’s momentum is on the weak side. If it can break below 640, then it will bring in a round of a deep selloff. Swing traders holding positions above 665 can continue to hold.

For the short term, you can refer to shorting around the 652-655 area, looking down to 640. If it breaks, continue to look for 630-620. #布伦特原油重返100美元 #