Ok it seems like there is another wave of protests happening in Iran after the government was backed into a corner until they had to officially accept responsibility for shooting down the Ukranian plane.
there is a possibility of internet shutting down here but this time I have made the necessary arrangement to stay connected even if they cut people off 😎😁
so I'll be around for the next week.


still, with the shithole the Iranian government is stuck in right now, doesn't really give them a chance for doing crazy stuff like closing down hormuz strait since that would alienate close allies of Iran (Russia and China) and leave them defenseless against US.
that coupled with the fact that the daily candle in oil didn't have any significant correction(I think it had a time-correction only and the correction was still towards the downside) before the close of the market, makes me worried that we might be in a freefall in oil!
I'm going to hedge my bets and get out of my trades on breakeven (downside target I think could be $50 price range) so I will try swinging my way out on the way down with some scalping on the way, but unfortunately I think I will still lose profits made on it so far! oh well...shit happens.
with Iran being where it is now politically, I wouldn't cross off the possibility of the government officials fleeing the nation in the coming weeks!
that could also add the possibility of Iran's oil reserves getting poured in the market and we could see a race to the bottom (if shale keeps stealing market share from OPEC there is also a possibility that Saudi Arabia pumping oil in the market to take back their market share at the expense of their neighboring countries in the persian gulf region. and they are the only supplier capable of handling low prices in oil!)

in the meantime, I think our best bet in the market would be depreciation of USD and Gold getting stronger in the first 3 months of 2020. (and naturally a fall in oil due to risk appetite depreciating)

have a nice weekend everyone.