Crude Oil - Sell around 75.00, target 70.00-66.00

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Crude Oil - Sell around 75.00, target 70.00-66.00Brent Last Day Financial FuturesNYMEX_DL:BZ1!RuijinCatCrude Oil Market Analysis: Despite renewed fighting between the US and Iran over the weekend, crude oil did not open higher in Asian trading today, instead maintaining a bottoming-out pattern. The outlook for crude oil remains bearish. Latest news indicates they will negotiate again on Tuesday, suggesting further downside potential. Sell on any minor rebounds. Focus on selling around 75.00 today. For this week's selling target, we initially expect to see crude oil reach around 60.00. A break below this level would likely see it reach around 55. However, this level represents the price before the fighting began, so buying here could lead to a significant rebound. Fundamental Analysis: The US and Iran have agreed to cease mutual attacks. According to a senior US official, the two sides plan to meet on Tuesday in Doha, Qatar, to resolve the dispute surrounding the Strait of Hormuz. US media reports that technical negotiations between the US and Iran are still planned for the coming days. Trading Recommendation: Crude Oil - Sell around 75.00, target 70.00-66.00