Middle East negotiations on hold!

$CL $70 at risk, crude oil bears are taking over!
US and Iran met in Qatar this week, both sides agreed to stop mutual attacks, but Iran's foreign minister threatened that the Strait of Hormuz will be completely under Iran's control in the next 30 days, and technical talks were canceled on Sunday! Geopolitical cooling coexists with supply disruption risks, and oil prices are fiercely oscillating around the critical $70 level!
Technicals: $70 is the lifeline, a breakdown means collapse!
Currently, the MACD death cross persists, RSI continues to weaken approaching oversold—but in a grinding downtrend, oversold can become more oversold! The Bollinger Bands are opening downward; once the $70 round number is broken, the downside space will fully open!
Fundamentals are a mixed bag, with bears in the driver's seat!
Although the US-Iran talks are bumpy, the general direction still points to de-escalation; Iran's tough stance seems more like a bargaining chip than a substantive supply threat. Technicals take priority: once the trend breaks below 70, stop-loss orders will surge, accelerating the decline!
Trading strategy:
Enter short around 70-71
First target 69, second target 68
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