Mar. 24 at 6:07 PM
Hormuz escalation risk is REAL — and oil ETFs are pulling back hard despite the geopolitical fire underneath them 🔥
$USO down 8.95% to
$110.56,
$UCO getting crushed 11.69% to
$37.93,
$DBE off 8.06% to
$27.94. All on 3x+ relative volume. Classic sell-the-news after a 50-100% QTR rip. RSI still elevated —
$UCO at 61.68,
$DBE at 63.90.
Bahrain pushing a UN resolution for "all necessary means" in Hormuz + Gulf states eyeing direct conflict with Iran = major supply disruption tail risk. Watch
$USO SMA 20 at
$102.88 as first support. Dip buyers eyeing
$UCO's
$33.90 SMA 20.
Fade the panic or load the dip — Hormuz headlines aren't going away 👀
#CrudeOil #OilTrading #Geopolitics