Pres. Trump is posting on TruthSocial:
“From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT, including those located next to, or in, the Capital City of Tehran. Thank you for your attention to this matter! President DONALD J. TRUMP”
Earlier Iran said that they control the Strait of Hormuz. They also said that its production of strategic missiles has never stopped.
The price of crude oil is currently trading at $87.05 up $2.70 on the day. The high price extended to $88.61. The key 100 day moving average comes in at $89.48. The price has been below the 100 day moving average since June 12. Earlier today, the price moved above the 50% midpoint of the last trend moved lower from the May 18 high. That level comes in at $86.13 and is now a close support level for traders. Moved below that level and the swing high from last Friday at $84.55 would be the target. Earlier this week, the price traded above and below that level before spacing and moving higher from it.
This article was written by Greg Michalowski at investinglive.com.