Feilong Daily | May 2 Happy Labor Day, bros! A breakthrough between the US and Iran Yesterday, Iran submitted a new direct negotiation proposal to the US via Pakistan, causing oil prices to drop. Brent crude fell from 118 to 112, while $BTC and US stocks strengthened in sync. Pakistani officials expressed optimism, saying the chances of reaching an agreement this time are higher than before. But Trump’s bottom line hasn’t changed: 'No deal unless Iran gives up nuclear weapons.' Iran hasn’t budged either, so the two sides are still in a standoff. With Trump’s mid-May visit to China approaching, he needs a diplomatic win before then. The negotiation window might just be in the next two weeks. If a deal is struck, oil prices could plunge 20%+, and risk assets that have been suppressed for two months might see a recovery rally. Technical analysis: 75k is key support, 83.3k (Fibonacci 0.618) is resistance. This is a rebound, not a reversal—stay realistic!