Reuters is reporting:
- Qatar is sending a negotiating team to Tehran to help secure a end of war deal
Pakistan Army chief warns that the visit to Tehran does not mean a deal is within reach.
The price of crude oil has moved to a low of $95.46. The current price is trading at $96.10. The price is below a swing area between $96.34 and $97.34. That is close risk. Staying below is more bearish and opens the door for more downside.
A move above that area would likely disappoint the sellers on the break. A move above and then the $100 level would have traders looking back to the near converged 100 and 200 hour MAs are at $100.93.
WSJ Norman is now saying the draft deals are not accurate.
Rubio is also speaking and says that he would like to see an agreement, but there needs to be a Plan B if Iran refuses to open up the Strait of Hormuz.
Needless to say, the news is fluid. Expect increased volatility as the market deals with the headlines.
- S&P is up 31 points
- Nasdaq is up 111 points
- Dow is up 400 points..
This article was written by Greg Michalowski at investinglive.com.
