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$USOIL Update
Everyone wants cheaper oil, but geopolitical risk is currently in the driver's seat.
Tensions around Hormuz and Trump's pressure on Iran are adding a heavy risk premium, propping the price past $104.
We are grinding directly into a massive structural decision point at the $108 Lower High.
Rejection here means the macro downtrend remains intact, opening the door for that much-anticipated flush lower.
A clean break and hold confirms a structural reversal, likely sending prices much higher.
The news brings the noise, but the chart prints the truth.
Watch the reaction at $108 closely.