MicroStrategy is holding above support and looking okay at the moment, despite broader market weakness.
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Commodities Update: Technical Analysis: OIL HIGHER, STRAIGHT STILL SHUT
The creator provides a technical analysis of commodities, currencies, and equity markets, noting that the closure of the Strait of Hormuz is a significant factor impacting prices. He anticipates higher oil prices, stronger yields, and a stronger dollar, while expecting pressure on gold, silver, and broader equity markets. Specific ETFs and sectors like energy (XOP, OIH) and uranium (URA, URNM) are discussed with varying outlooks.
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Tickers discussed in this post
XLI is pulling back due to the Strait of Hormuz closure, high energy prices, and a slowing economy, impacting transportation and industrial sectors.
KRE is down slightly, and economic-sensitive sectors may lag due to the Strait of Hormuz closure and rising interest rates.
URA is well-positioned for a move higher and could break out with other energy sectors, though it may be influenced by the overall equity market.
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