The $120 Peak and the Fog of Christchurch: A Weekly Recap
The Anatomy of a Double Top?
This week, Brent Crude pushed the world to its limit. While the final trading day saw a peak of $118.016, the absolute high for the week was reached earlier, piercing the $120.6 mark. Looking at the charts the retreat to $114.219 by the Saturday 9 AM close represents a significant “cooling off” from the week’s most feverish moments.
The “Termination” Paradox
Get Ausnznet’s stories in your inbox
Join Medium for free to get updates from this writer.
The volatility was fueled by a masterclass in political ambiguity from Washington. On Friday, President Trump formally notified Congress of the “termination” of hostilities with Iran. This legal maneuver was designed to defuse domestic political pressure. However, the economic reality on the water remains unchanged: the blockade persists, and in Trump’s own words, it remains a “profitable business.”
Lessons from the Limit Order
In hindsight, a limit sell order at $120 would have been the trade of the month. Missing that opportunity is a reminder that in a high-volatility environment driven by headlines, the difference between a “war high” and a “consolidation” is often just a few minutes of news-cycle lag.
Writing from the Mist
As I write this from a fog-bound Christchurch, the market feels much like the view from my window – dense, unpredictable, and shrouded in uncertainty. The $118 level failed to retest the $120.6 high, signaling that for now, the “shock and awe” phase of the price surge may be meeting its match in political reality.
Next Week’s Watch: Will $114 hold as the new floor, or will the “Pirate Business” drive us back to the $120 peaks?
