Monday morning crude oil continued to fluctuate within the range, and the short-term trend remains at a critical juncture. Last Friday, it retreated from the 58.8 level to the 56.6 target, then rebounded to around 58.2 before encountering resistance again. Currently, the fluctuation range has significantly narrowed.

From a fundamental perspective, although there are signals of negotiations in the Russia-Ukraine situation, unexpected events could still disturb market sentiment. Deeper constraints stem from the ongoing imbalance in global supply and demand, which directly limits the sustainability and height of crude oil rebounds. Meanwhile, the market continues to focus on the Federal Reserve's future policy directions, which will have a key impact on the overall performance of commodities.

On the technical side, the 58.0 level is a short-term resistance zone. If a rebound reaches around 58.7, there is a high probability of encountering resistance and pulling back. Short-term trading strategies suggest maintaining a short position at high rebound levels, with targets focusing on support in the 56.5-56.0 range. It is important to note that unexpected geopolitical factors could trigger rapid market reversals, so risk management remains the top priority.