To be honest, I’m bullish on this oil rally. Israel is making moves again, and Iran just said they no longer trust the U.S., so the situation is heating up.
The fundamental conflicts between the U.S. and Iran have always been there, and with Israel stoking the fire, any peace talks are a long shot. Now, we just need to see if the conflict escalates further; if the Strait of Hormuz gets blocked, hitting $100 a barrel could be in the cards.
At this level, I think there's still room to go long on oil, especially since the geopolitical risks haven't faded. A pullback is just an entry opportunity. However, keep your position size in check, as any sudden positive news could flip the script at any moment.
#CL #BZ #oil
The fundamental conflicts between the U.S. and Iran have always been there, and with Israel stoking the fire, any peace talks are a long shot. Now, we just need to see if the conflict escalates further; if the Strait of Hormuz gets blocked, hitting $100 a barrel could be in the cards.
At this level, I think there's still room to go long on oil, especially since the geopolitical risks haven't faded. A pullback is just an entry opportunity. However, keep your position size in check, as any sudden positive news could flip the script at any moment.
#CL #BZ #oil