Crude just popped in Asian trading and the tape tells a messy story
WTI December futures tapped $97.35 at the high before settling around $96.60-$96.90 depending on the feed
The move is small on paper but the context is wild
This comes after a brutal Monday session where oil got smoked on Iran peace talk hopes
Then reports hit that the US struck Iran's Qeshm Island and the bid came right back
Goldman also jacked its WTI forecast from $81 to $94 for year end citing supply risk
Dollar index is basically flat near 101.70-$101.80 with everyone parked ahead of the US midterms
Translation for crypto traders oil is holding a geopolitical premium that refuses to die and the dollar is going nowhere fast
That combo keeps the macro backdrop sticky for risk assets
Watch the $95.16 support and $104.99 resistance levels nobody is talking about enough
$ARIA $CL $JCT #Oil #WTI #Bitcoin #Macro
WTI December futures tapped $97.35 at the high before settling around $96.60-$96.90 depending on the feed
The move is small on paper but the context is wild
This comes after a brutal Monday session where oil got smoked on Iran peace talk hopes
Then reports hit that the US struck Iran's Qeshm Island and the bid came right back
Goldman also jacked its WTI forecast from $81 to $94 for year end citing supply risk
Dollar index is basically flat near 101.70-$101.80 with everyone parked ahead of the US midterms
Translation for crypto traders oil is holding a geopolitical premium that refuses to die and the dollar is going nowhere fast
That combo keeps the macro backdrop sticky for risk assets
Watch the $95.16 support and $104.99 resistance levels nobody is talking about enough
$ARIA $CL $JCT #Oil #WTI #Bitcoin #Macro
