r/Market_Forecasts

WTI oil gained 3.5% as President Trump rejected Iran's offer and noted that he wanted a better deal.

Oil prices are moving higher, but it looks that the market is skeptical about a potential restart of the military operation against Iran. Today's inflation report showed that inflation rate increased to 3.8%, exceeding the analyst estimate of 3.7%.

Trump has already started to talk about a gasoline tax holiday, which indicates that high gasoline prices, which were triggered by the Iran war, have become a political problem.

In addition, it looks that current price levels have already started to put pressure on global demand. WTI oil will remain volatile in the near term, but it will surely need strong catalysts to get out of the current trading range.

Silver markets are showing signs of life as traders prepare for the potential peace deal in the Middle East.

Gold/silver ratio is at multi-week lows, which shows that speculative money has already started to move into silver.

Technically, silver will likely need to get above the $84-$86 area to confirm the breakout.

Symmetrical triangles can break out in either direction, true. But this entire geopolitical situation, leading to a persistent oil crisis and global inflation, is making me biased toward the downside. TODAY's jump looks like a bull trap, as we have seen in previous bear markets, including 2022 and 2018.

My XRP price target: $1.

It's a disappointing day for the bulls as WTI oil pulls back despite Iran's attack on the United Arab Emirates.

U.S. believes the ceasefire is still valid. UAE does not (or cannot) respond. The technical picture starts looking bearish, although the situation may change quickly if negotiations stall completely and U.S. restarts the military operation against Iran.

A move below the $100 level may push WTI oil towards the 50 MA at $92.54.

Gold tested new lows as Iran attacked UAE. Gold trades as a risk asset, so the price is moving lower amid rising geopolitical tensions.

The technical picture remains bearish. Gold will be ready to move towards the $4350 area in case it settles below the $4500 level.

It is highly likely that some central banks are already forced to sell gold to support local currencies and economies, which were hit by high energy prices. It remains to be seen whether big buyers like China will step in and boost purchases or wait for lower prices.