Tuesday's reversal: Markets initially surged on a 5 day strike delay but quickly faded as Iran denied any formal dialogue. This causes an intraday reversal.
Shift in Play: Analysts warn that buying the dip is becoming riskier. In fact some analysts suggesting
a transition toward "selling the rally " as geopolitical tensions with Iran refuse to cool.
Watching the TACO trade right now feels like waiting for a delivery that is hours late. You want to believe the "chicken" is coming but the hunger (red candles) is getting real.
With a 5 day clock ticking, oil is either prepping for a USD 110 moon mission or an awkward landing. Strap in, the only thing certain is a bumpy ride ahead.
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