Ok now this might be something to worry about.
Another down day for the metals would likely mean a confirmed breakout to the upside for the gold/silver ratio.
Gold/Silver ratio sitting just below overhead resistance within a symmetrical triangle consolidation. A breakout to the upside would imply a sharp correction in the metals. Not too ominous just yet, but something to keep an eye on.
Another huge draw:
Crude -7.794MM, Exp. -3.050MM
Gasoline +3.364MM
Distillates +1.502MM
Cushing -583K
SPR drain: -7.993MM last week, now down 58MM since the start of the war to 357MM barrels
@WarMonitor3 Have not heard much about the ceasefire from Iran. Seems more like a construct of western media and the US administration to keep a lid on oil prices and suppress bond yields.
Gold/Silver ratio sitting just below overhead resistance within a symmetrical triangle consolidation. A breakout to the upside would imply a sharp correction in the metals. Not too ominous just yet, but something to keep an eye on.
🚨 BREAKING: Al Jazeera confirms a massive Pentagon disaster. Iran's IRGC officially struck the US 5th Fleet headquarters in Bahrain and multiple helicopter bases.
This retaliation was a direct response to unprovoked American aggression against an Iranian oil tanker.