Phyrex
Phyrex|Jun 12, 2026 09:58
Woke up and it's already $82. Normally, at $82, I'd sell off more than half to lock in profits, but since I bought so little this time, selling half doesn't make much sense. I'll just hold onto it for now. If the geopolitical tensions between the U.S. and Iran escalate at any point, I'll close the position immediately. For now, I'm eyeing $78 for this wave of oil prices. $78 is the price point from the first time the U.S. and Iran fully ceased fire, a sort of market spike price. I'm not entirely sure, but shorting WTI is definitely the right move. If everything goes smoothly and the Strait of Hormuz fully opens, I’m looking at $65. Signing an agreement doesn’t mean the Strait is open. Once the Strait of Hormuz officially opens, I'll continue adding to my position. After the opening, it’ll take some time for oil prices to stabilize—probably around three months. So even though the long-term target is $65, it’ll likely be a slow journey to get there.
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