CLO has completely weakened. From the high of 0.7600 to now, it’s even difficult to hold the 5-day moving average. Looking at the RSI dropping from 56 to 48, the bullish enthusiasm is clearly waning. A more straightforward signal comes from the MACD — a death cross has formed, and the green bars are still lengthening, indicating that the bears are in full control.

The most outrageous part is actually the trading volume. Shrinking to this extent suggests that no one wants to take on positions at this price. Capital from all sides is in a state of wait-and-see, and self-reinforcing rebounds seem distracted. The price repeatedly struggles around the moving averages, and the situation of “not breaking to establish a new level” is very obvious. As soon as a large downward candle appears, support will instantly collapse.

The current level is 0.7112. Instead of waiting for a rebound, it’s better to go short at market price directly. With this momentum, the bulls have already lost their say.