(Not financial advice)
Comment below
Looking for a bounce around this $98 dollar level up to new highs. This is highly speculative and news driven, so best be careful, but Israel has shown little restraint and Iran is stating that they will show less restraint going forward as well. Especially risky situation considering the newly chosen leader of Iran that is younger but still a hard-liner like his father.
Bearish risks on this bounce are nations releasing reserves from stockpiles, although that seems unlikely seeing as how the war is expanding and those resources are needed.
The other risk is further futures market manipulation by the U.S. Treasury department.
Per the Sunday Guardian, and Indian news channel:
"Iran has strongly condemned the Israeli strikes and warned that it may respond if similar attacks continue. A spokesperson for Iran’s military said Tehran has not yet targeted energy infrastructure belonging to its adversaries but indicated that the situation could change.
Iranian officials also warned that continued attacks on oil facilities could trigger a major shock in global energy markets. According to the warning, crude oil prices could surge as high as $200 per barrel if the conflict expands and more energy infrastructure becomes involved."
Link Below for full article:
sundayguardianlive.com/world/iran-oil-field-strike-us-reportedly-sent-wtf-message-to-israel-after-tehran-energy-facilities-hit-oil-prices-surge-above-100-watch-video-175117/amp/
Comment below
Looking for a bounce around this $98 dollar level up to new highs. This is highly speculative and news driven, so best be careful, but Israel has shown little restraint and Iran is stating that they will show less restraint going forward as well. Especially risky situation considering the newly chosen leader of Iran that is younger but still a hard-liner like his father.
Bearish risks on this bounce are nations releasing reserves from stockpiles, although that seems unlikely seeing as how the war is expanding and those resources are needed.
The other risk is further futures market manipulation by the U.S. Treasury department.
Per the Sunday Guardian, and Indian news channel:
"Iran has strongly condemned the Israeli strikes and warned that it may respond if similar attacks continue. A spokesperson for Iran’s military said Tehran has not yet targeted energy infrastructure belonging to its adversaries but indicated that the situation could change.
Iranian officials also warned that continued attacks on oil facilities could trigger a major shock in global energy markets. According to the warning, crude oil prices could surge as high as $200 per barrel if the conflict expands and more energy infrastructure becomes involved."
Link Below for full article:
sundayguardianlive.com/world/iran-oil-field-strike-us-reportedly-sent-wtf-message-to-israel-after-tehran-energy-facilities-hit-oil-prices-surge-above-100-watch-video-175117/amp/
Note
Well Trump really messed this one up.That said, the reaction looks like capitulation, and we may easily rise back up into the channel overnight or tomorrow.
The Strait is still closed. Other producing nations are still cutting production. This is just hopium for retail to buy the dip and be the exit liquidity before the next big event occurs that rug pulls everyone.
Be safe out there.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.