Oil analysis: watch $105, $110, and $115
On October 6, oil prices held above the lower boundary of the ascending channel. They have now filled the gap at $101 and touched the channel’s midpoint.
If prices continue to break higher, the targets are $105, then $110, followed by the channel’s upper boundary at $115.
The next two dates are crucial: Israel’s parliamentary election on October 27 and the U.S. midterm elections on November 3.
If Trump knows he is certain to lose the midterms, he may strike Iran ahead of time. The time window worth watching is after Israel’s parliamentary election on October 27 and before the U.S. midterms on November 3.
The current pullback in U.S. stocks can also be seen as the market preparing to hedge against the risk of war.
For now, wait for the bearish catalysts over the next two weeks to play out one by one, then look for strong-performing sectors. Focus on S&P large caps, software stocks, and crypto-related stocks.
On October 6, oil prices held above the lower boundary of the ascending channel. They have now filled the gap at $101 and touched the channel’s midpoint.
If prices continue to break higher, the targets are $105, then $110, followed by the channel’s upper boundary at $115.
The next two dates are crucial: Israel’s parliamentary election on October 27 and the U.S. midterm elections on November 3.
If Trump knows he is certain to lose the midterms, he may strike Iran ahead of time. The time window worth watching is after Israel’s parliamentary election on October 27 and before the U.S. midterms on November 3.
The current pullback in U.S. stocks can also be seen as the market preparing to hedge against the risk of war.
For now, wait for the bearish catalysts over the next two weeks to play out one by one, then look for strong-performing sectors. Focus on S&P large caps, software stocks, and crypto-related stocks.