On Monday (April 21) in the Asian session, US crude oil fell 85 cents to $66.75 per barrel, a drop of 1.32%; WTI crude oil fell 117 cents to $62.83 per barrel, a drop of 1.83%. The decline was mainly affected by the breakthrough in the US-Iran nuclear talks over the weekend. Iran's foreign minister said that the two sides have begun to develop a framework for a potential nuclear agreement, and US officials said that the negotiations have made "very good progress." Market interpretation believes that if Iranian crude oil gradually returns to the international market in the next few months, it will significantly ease the global supply tension, thereby curbing the short-term rise in oil prices.

Since this month, oil prices have fallen sharply, hitting a four-year low at one point. Investors are worried that the tariff war between the United States and major trading partners, including China, may severely hit crude oil demand. In addition, OPEC+'s decision to resume crude oil production at a faster-than-expected pace has also exacerbated concerns about oversupply.

The current MACD dead cross of crude oil daily line is shrinking and sticking, and the smart indicator STO is running near overbought, which represents the price shock. Currently pay attention to the support of 62.6-7 and 61.7. The current MACD high golden cross of 4 hours is shrinking and sticking, and the smart indicator STO is quickly repaired downward. In the short term, pay attention to the middle track and the moving average MA60 support, which can correspond to the support of 61.9-60.9 respectively, but the middle track will gradually move up over time.

The current MACD dead cross of crude oil hourly line is running with large volume, and the smart indicator STO is running oversold, which means that the hourly line is weak. At present, pay attention to the bonding support of the lower track and the moving average MA60, which is 62. In summary, the operation of crude oil today is recommended to be more near 62.6-7, with a loss of 61.7, and the target is 63.7-64. Short orders are involved near 65-65.5, with a loss of 66.2, and the target is to be determined.

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.