Long
Iran vs Oil Play
Commencing next week, many analysts will be wondering if Iran will retaliate following the airstrike by US that caused the death of Qasem Soleimani.
One possible action Iran could undertake is to reduce or stop the oil supply out of Persian Gulf. This move will hurt the US economy and inevitably drives up oil prices.
I don't know if this will happen but if the price action on the chart breaks above 2.42, that will be a good telltale sign. Get ready your ammunition, oil bulls are far from over.
One possible action Iran could undertake is to reduce or stop the oil supply out of Persian Gulf. This move will hurt the US economy and inevitably drives up oil prices.
I don't know if this will happen but if the price action on the chart breaks above 2.42, that will be a good telltale sign. Get ready your ammunition, oil bulls are far from over.
Note
nice bullish candle, expecting it to go up tonightNote
retesting the 2.42 level again. Yesterday, Oil falls 4% so this is Oil related so it follows to a certain degree.
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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.