Let me talk about crude oil. After hitting bottom, a rebound has begun. From a chart perspective, selling pressure is extremely heavy and lacks the conditions for a direct V-shaped reversal. Japan's Thursday reserve release on Thursday is a real "increase in supply," meaning it's a clear bearish catalyst. Meanwhile, Wang Yi just spoke with Iran's foreign minister on the phone, with Iran saying it's currently only blocking the strait for warring nations. Based on my assessment: upside momentum will be blocked, followed by a second bottom test. Given that the moving average resistance near 104.5