What Else will Move?
The US withdrew from an agreement that it signed with Iran, Russian, France, Britain, Germany and China to restrict Iran’s nuclear development program. The US administration thinks it can forge a better deal, one that will forestall Iran’s missile developments too. That remains to happen. What does not remain unseen is the rise in the price for crude oil.
WTI Crude in the Spotlight
The news resulting from the US Iran deal will focus on the oil patch for the first round of aftershocks. This is so because of the geopolitics of the affair. The Middle East. Enough said. We enter today at or above 70.56. We place the profit objective between 70.77 – 70.89 and the stop loss between 70.23 – 69.98.* NOTE* Price will be on the move today and for the near future. The entries and exits will change from those posted here. They are less important than the direction. The direction of movement is the key.
S&P 500 Volatility
This index tracks the volatility in the S&P 500 Index traded in New York. It is a good asset because it functions as a hedge against the often sharp movements in the S&P 500. In the case where the S&P is steady, as it is now, the TVIX falls and vice versa.
AUDUSD Coming Down
This pair is in freefall. It has been consistently making money for over a year. This last phase on the right of the chart looks like free fall. How much more steam the USD has left is coming into question. Nonetheless, the trend is clear