The market finally started to rebound in this morning's session, mainly because oil prices began to fall back after breaking the hundred-dollar mark. Although geopolitical issues have not yet eased market capitalization, the previous oil price fluctuation range of 70-90 has effectively shifted up by about 10 dollars to the 80-100 range. After all, the Strait of Hormuz accounts for only 20% of global supply and is not completely cut off. Whether prices rise or fall, it is reasonable; it all depends on what capital wants.
If this is the bottom range, combined with a few sharp moves around big companies' earnings reports this week, the market should be able to firmly stabilize. After that, there are the FOMC and midterm elections. Once all uncertainties pass and the market has mostly fallen, a rebound will naturally follow. $CL #
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more
