On Tuesday (July 21) during Asian trading, US crude oil fell for the second consecutive trading day, trading around $82.20 per barrel. The recent decline in oil prices was mainly due to a temporary improvement in market risk sentiment, as investors began to digest expectations of reduced supply pressure from potential diplomatic easing.

Iran stated that mediators had proposed a plan to ease tensions, and some market observers even believed that a short-term ceasefire was possible. This news reduced the risk premium previously in the oil market due to concerns about supply disruptions, pushing oil prices into a temporary correction.

From a daily chart perspective, US crude oil is still supported by geopolitical risk premiums, but prices need new bullish factors to regain upward momentum. After breaking through the $80 area, it maintained high-level fluctuations and has currently fallen back to around $82. The overall trend remains in a consolidation phase after an upward move, but short-term momentum has weakened.

Crude oil's short-term (1-hour) trend stalled at new highs, with prices repeatedly crossing the moving average system, indicating a short-term oscillating trend. The momentum of both bulls and bears has once again entered a stalemate. In the early morning, oil prices fluctuated above 80, with a range between 79.50 and 84.40. It is expected that crude oil will mainly fluctuate within this range throughout the day. Today's strategy: Buy at 80.00, stop loss at 79.30, target 83.60.

Disclaimer: The article is contributed by the market analyst from Binkex 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.