oil just jumped back above 90 and this move feels a bit different from the last rally. brent is around 90.50 after the latest us iran escalation near the strait of hormuz, so now the market is trying to price in the risk of another supply shock. at the same time higher oil prices could keep inflation sticky and thats already making the fed hike story stronger, with september odds now around 57%. personally im not sure id chase the move after such a fast jump, but fading oil here also feels dangerous if the situation gets worse. feels like one headline can completely change the setup either way. how would you trade this, follow the breakout or wait for a pullback?
might be worth checking tyrian trade too if you want to compare a few different market views: https://tyriantrade.com