There is a lack of clear evidence of a turn in the trade. At this stage, it is based on market "wishful thinking" and strong expectations, which means that the turn may not be sustainable, especially with the release of US GDP and PCE data in the next two days.

At the moment, with the labor market and other core services inflation still hot, it may be a bit premature to bet on a Fed shift on the basis of housing market data alone. We can trade "a shift" but need to be very wary because it's very uncertain at this point. The shift has not yet occurred, and it even hasn't stopped, so trading the Fed's shift may not be sustainable.

The macro environment is unfavourable, so the demand for copper may turn weaker. Overall, the copper price remains bearish.

The crypto market saw a long-awaited big bull candle, with a collective breakout. But at the moment, it's not advisable to keep going long. If the price doesn't retreat below 1400, we can enter long positions.

Short-term oscillation trend will remain unchanged; we need to be wary of the supply-side speculation risk driving market prices higher; the price will move down under the long-term pessimistic macro-environment.

Short-term competition between supply and demand sides temporarily forms a balance between bears and bulls, and the oscillation range will be further narrowed. Besides, WTI will swing in the range of 82-87, while Brent oil will oscillate in the 90-95 range.