Morning Trend | SINOPEC KANTONS fluctuates downward, is there a shift in the main line of the oil and gas sector?

SINOPEC KANTONS (934.HK) experienced another volatile decline yesterday, with the oil and gas sector continuing to show weakness overall. The international crude oil prices have been retreating for several consecutive days, and external demand remains sluggish, which has become the main reason for capital withdrawal from the sector. Although there was a weak rebound attempt during the day, the bearish forces quickly suppressed the bulls, causing the trading focus to gradually sink throughout the day. From a technical structure perspective, the MACD daily death cross appeared at a critical watershed, with K-line closing below the 5-day and 10-day moving averages for several consecutive days, firmly establishing a weak structure. The continuous breakdown on the technical side has amplified the flow of defensive capital, leading the sector to enter an active risk-averse mode. Large orders are flowing out of the industry, with defensive thinking dominating the market rhythm. The core variables facing the sector are the marginal changes in oil prices and policy adjustments in the downstream storage and transportation chain. Without any sudden formal positive news, short-term funds are likely to remain cautious, and the risk of structural adjustment has not dissipated. If there are sudden policies such as price increases in storage and transportation or import stimulation, a phase of abnormal market movement cannot be ruled out, but the premise is that there is resonance in trading volume and themes. Operational advice: Current pullback space and support boundaries need to be closely monitored, and the risk of sudden drops should not be underestimated. A short-term stop-loss mechanism should be set in advance, with dynamic position control prioritized. "Sector washout + leading stocks driving" is the prerequisite for future rebounds. Conservative funds may choose to wait and see, while aggressive investors can capture intraday fluctuations and lightly position themselves to speculate on phase opportunities