TMAD Commodities: WTI Back at the Highs

$USO $URA $GLD $SLV

Hello Traders,

Oil prices are back at $110, and the pressure on President Trump is becoming intense. He’s stuck between a rock and a hard place: his poll numbers are tanking because of high gas prices, but talks with Iran are failing because neither side wants to back down.

Iran wants the U.S. to leave the Middle East, which Trump refuses to do. Now, there are growing fears that he might scrap the ceasefire and turn to military force to break the blockade in the Strait of Hormuz. Everyone is watching for the next headline, as the current 'peace' looks more like a mirage every day.

The unusual call activity we caught on USO 0.00%↑ last week was a perfect signal. It put us ahead of the crowd right before this massive breakout happened

Published last week:

Now let’s go straight into today’s positioning update: