On Tuesday (April 14th) during Asian trading, US crude oil fell by more than 2%, trading around $97 per barrel, and may test the $95 per barrel mark during the day. The situation in the Middle East has become the core driving factor for the global energy market. The US blockade of shipping in the Strait of Hormuz has disrupted the crude oil transportation chain, and this channel carries about 20% of the world's seaborne crude oil transportation. Its obstruction has quickly increased market expectations of supply shortages. At the same time, Iranian crude oil exports have declined significantly, and OPEC's overall production has fallen in tandem, resulting in a temporary contraction in global crude oil supply.

From the developments, the US and Iran have signaled a resumption of negotiations. US President Donald Trump stated that he had received communication from Iran promoting an agreement, and Iranian President Masoud Pezechiyan also clearly expressed his willingness to continue negotiations within the international framework. This development has eased market concerns about further escalation of the conflict, pushing oil prices back from their highs.

On the daily chart, US crude oil maintains a high-level consolidation pattern, with no fundamental reversal in the overall trend. The current price is trading within the previous upward channel, with the $105 level acting as key resistance. A break above this level would reopen upward potential, while the $90 area represents significant support, corresponding to the previous area of dense trading and the lower trendline. Momentum indicators show that the RSI has retreated from its highs but has not entered oversold territory, indicating some market support.

On the 4-hour chart, the short-term trend is weak, with the price trading within a downward channel and the moving average system showing a bearish alignment. However, there is some buying support around $95. A break below this level could test the $92-$90 range; conversely, a sustained move above $98 could trigger a technical rebound. Today's strategy: Short at $105.20, stop loss at $108.70, target $100.00.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.