BREAKING: US oil prices extend gains above $100/barrel as geopolitical tensions in the Middle East continue to escalate.
Oil prices are now up another +17% from their October 6th low.
$BTC Quick Update
There has been a slight recovery/bounce at the POC area, followed by continuation of the main trend.
Reminder: as long as no new Higher High is formed, the bias remains for a straight move toward the 77777 area.
Shortterm: a scalp LONG idea at VAL looks attractive to me around the #NYO period.
Good luck!
BREAKING: Iran now announces it has shot down a US MQ-9 Reaper drone over the Strait of Hormuz, with the IRGC saying the aircraft was the 54th American MQ-9 destroyed and was intercepted by a new advanced air defense system under the country's integrated air defense network, per ISNA.
The announcement came as anti-ship missiles and drones were launched from Hormozgan Province toward the Strait of Hormuz, with explosions reported in the waterway. Heavy GPS jamming has also returned to the Persian Gulf, while local reports from Bandar Abbas described two massive explosion waves and seismic tremors around 04:10 and 04:12 local time.
So here's the thing
Nothing's changed ...everything is bearish. But.
The bears have until Friday the 23rd or latest Tuesday the 27th
Afterwards you have fomc on the 28th and big mag7 earnings on the 28th and the 29th as I posted
So...
The alternate to 7580 that I've been calling for would be that the market corrects in time and not price. So basically stays flat
The daily pivot tomorrow is 7735 acting as resistance
The weekly pivot is 7708 as is being defended hard tonight.
Remember what I said.. once the weekly SPX pivot goes (since the weekly vix is already bullish) typically that's the ingredients you need for an SPX drop that's why they're defending it so aggressively.
BREAKING: The U.S. might have started a fresh wave of strikes on Iran, with multiple local reports from Bandar Abbas documenting significant seismic disturbances and powerful shockwaves, as residents at 04:10 and 04:12 local time experienced two massive explosion waves and a severe tremor accompanied by muffled sounds, per local reports.
Witnesses described violent shaking akin to an earthquake or major explosion, with vibrations felt particularly in residential areas near the air base quarters.
The blasts come as heavy GPS jamming returns to the Persian Gulf.