US forces to resume Iran blockade on July 14 at 4pm ET | Metals Mine

  • US forces to resume Iran blockade on July 14 at 4pm ET

Added at 1:21pm
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ffghost
7 hr ago
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Standard operating procedure: Gives Iran time to "call the president and beg for a deal" (president's words, not mine)...at which time "the price of oil will drop like a stone" (again, his words).
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Momofrmnyc
6 hr ago
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It's possible but honestly I think he's going to raise the heat further. He didn't want to remove the blockade in the 1st time around, this blockade looks like it would encompass more than the first time.
ffghost
6 hr ago
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There certainly has been a longer period of market reaction than the previous 5/6/7 times. "normally", the market discounts the rhetoric within hours (after being fooled a few times in early April). This, however, has been sticky.

It doesn't help that equities were within spitting distance of all time highs (/es) and could have rolled over WITHOUT this catalyst, but here we are.

/nq (29480 at present) is either going to rally through 29580(ish) (toward the 20ma on the 15 min chart) this afternoon or unravel to 29355(ish) all the way back to the 61.8% daily fib.

2PM here is the directional marker for the next ~40 minutes.

If /cl can find its way below 77, we'll have a better shot at the VIX coming off and seeing a rally.
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Momofrmnyc
6 hr ago
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I think we are in a week of escalation. We have too much on the calendar on this week as well. It will make for an interesting few days.
ffghost
5 hr ago
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The VIX is certainly starting to support this idea as well. Friday's lows were basically the lows of the post-war era, so there's an argument to be made that we were due for some increases anyway. That said, as you point out, the macro data alongside geopolitical news will no doubt offer some 2-sided action (let's hope it's 2-sided anyway).
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chemosi
5 hr ago
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Will Iran persevere until the midterms with the blockade?....
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BaliBoyz80
7 hr ago
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its mean Hormuz open right now ? wow
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Trader#1322
7 hr ago
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The best thing the US can do is oil prices are already rising so fast that as long as the idiots keep it closed, the price of oil will skyrocket!!!!
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BaliBoyz80
7 hr ago
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if im not wrong, after saudi arabia tanker pass Hormuz, oil price up. how ?? so they open Hormuz only for this ? or maybe im wrong read the news.
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Trader#F221
7 hr ago
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buy gold then
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wasseiff05
6 hr ago
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Trader#F221
6 hr ago
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look yourself after i told to buy
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thereal007
6 hr ago
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buy on bombs, sell on trumpets
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Trader#ABE9
7 hr ago
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There u go mr trump take us home im ready to pay 85 at the pump $$$$
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Trader#6EDD
6 hr ago
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This is definitely BULLISH for the Crude Oil.
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