The protests in Iran are spiraling out of control. TV hosts of our national tv are resigning in protest and there is heavy crowds even in Tehran which was a comparatively quiet place in previous waves.

stay bullish on gold for now! I smell regime change!

Ukrain just announced that the rocket shot at the ukranian airplane has been shot manually by hand after aiming at target! (no computer error)

people in the streets are chanting swears and death-wishes on Khamenei directly and his IRGC forces!
he has officially lost the support of Iranian people.

so its now Islamic Republic (only real allies Russia - fuck putin - and China -fuck winnie the poo- ) against USA and the rest of the free world!

we should wait to see how US reacts to this mess!

Britain’s ambassador to Iran has been arrested during protests outside a university in the capital city Tehran and released shortly after. the reason for his arrest: "taking pictures of protestors"
British Foreign secretary Dominic Raab condemned Iranian government's action:
"“The arrest of our ambassador in Tehran without grounds or explanation is a flagrant violation of international law.
“The Iranian government is at a crossroads moment. It can continue its march towards pariah status with all the political and economic isolation that entails, or take steps to de-escalate tensions and engage in a diplomatic path forwards.”"



there are reports of IRGC forces shooting at protestors, and videos of people chanting "we don't want Islamic Republic"

trump used this chance for posting his first Persian tweet, supporting the protestors and admiring their courage.

Iranian university students purposefully avoid stepping on US and Israel flag out of respect.

Mohammad Mozafari (@mohmd_mozafari) Tweeted:
🔴Now Iran

The people do not disrespect the flag of USA and Israel. They say all over Iran: We are not the enemy of the USA and Israel. Our enemy is the people of the Islamic Republic of Iran.

#IranProtests
#IranProtests2020 https://t.co/usT41DaYtm https://twitter.com/mohmd_mozafari/status/1216303243829170178?s=20

Sums up the current situation in Iran pretty much!

8 Rockets hit US base in Iraq. No American troop casualties but some reports say 4 Iraqi soldiers were killed in the attack.

Trump also threatened China that if they continue buying oil from Iran the Chinese might face US sanctions as well!

#Gold - Megaphone pattern on its 5th wave (the strongest wave in megaphone pattern)

Ideal entry point: purple line (1552.11)
Target: Green line (1580)
Stoploss: Red Line (1538.17)

Don't forget to sign up for the bot (@Linorth_bot) to get my signals as soon as I post them. its well worth the sub price ($20)

I added 1 month to everyone who was already a member for the time I wasn't active so it wont count against their subscriptions.

Close to signing of the phase one of trade agreement between China and USA, America will remove China from the list of countries considered currency manipulators.

Seems like the US won't be lifting tariffs off of Chinese goods until they are sure the Chinese market will be open to the world and they will abide by the agreement. (then why should they sign it tomorrow?!)

Alright everyone, lets get ready for the new week.

Phase one of the trade deal between US and China got signed last week. potentially, this deal can increase the purchases of China from US in energy sector (oil and gas) and also provide legal grounds for US to stop china from buying Iranian oil (this will push the price of oil higher)

Also, over the weekend, there were violent protests all over middle east, specially in Lebanon
And the central government of Libya has decreased their oil production by %90 and the production in its biggest oil refinery (Al-Sharare) has been stopped by the protestors completely. (this will also push the price of oil higher)

WTI crude (USOIL) managed to hold above the 57 (my PRZ area was 57.90-58.30) and it has made a small jump from the topline of PRZ area, so I think the middle east tensions will at least help the correction to the upside climb above 60 again (and potentially till 63 or beyond depending on market reaction).

if the support holds here, oil will continue the uptrend for now. but still, the reason for the fall is the amount of ready supply for the market which made sellers confident in their shorts, but with the tensions raising again and the phase one deal which can potentially force China to stop buying Iranian crude (like India did) its likely for the oil market to stay bullish.

Also, The Feds continued buying treasury bonds last week (about 20 billion just last week) and they are likely to keep this rate till the end of February.
this will weaken the US Dollar and can push gold prices higher as well.

American banks are closed for MLK day, so be careful about your trading during this holiday.

Don't forget to sign up for my bot (@Linorth_bot) to get my signals. (its a paid service, $20/month)

Good luck out there

U.S. Secretary of State Mike Pompeo after berlin summit has said: progress had been made at a peace summit in Germany towards reaching a full-fledged ceasefire in Libya’s war.
He also told reporters he hoped Libyan oil facilities, blocked by factions loyal to commander Khalifa Haftar, will reopen as a result of the summit.

Opening

#EURUSD 1.1095
#GBPUSD 1.2997
#AUDUSD 0.6875

#USDJPY 110.07
#USDCAD 1.3062
#USDCHF 0.9682

just to be clear, these were opening prices for the new week.
not suggestions for trading.
sorry for not explaining it more in the post! 😅

unofficial exchange rate of stock indices:

#DOWJONES : 28693 (-250 pip)🔻
#DAX GER30 : 13395 (-122 pip)🔻
#FTSE : 7492 (-61 pip)🔻

there is a possibility of Gold, JPY and CHF to gap higher when the market opens, and a gap down for oil.

The fall of price in oil is due to coronavirus and the fear of its effect on china and the world's economy and in turn, its effect on lowering the demand for oil.
until we get more positive news on the outbreak (a cure or a vaccine for it) we might witness more selling pressure on oil.

Gold, JPY and CHF will still get stronger but the peace deal trump is planning to announce this week for middle east could curb the run up in gold to some extent. but still, since the feds are continuing with QE till the end of February, USD will still get weaker as a result and that will push gold and other safe haven currencies up more.

After confirming the spread of the Corona virus to three citizens in Chicago, Its transmission to four other US citizens in California has also been confirmed.

rockets also hit near US embassy in Baqdad, Iraq.
According to French Press, 3 out of the 5 rockets shot at US embassy has landed inside the embassy!

Reports say that some US soldiers have been wounded badly during the rocket attack.

Air traffic in baqdad is very high at the moment.

Let's see how US responds.

Abdulaziz bin Salman's (Saudi Energy Minister) reaction to #oil prices plummeting 7 percent last week:
"We carefully monitor the events related to the spread of the corona virus.
We have full confidence that the Chinese government and the international community can overcome the spread of the virus and control its consequences.
We in the Saudi government and in the members of OPEC+ have the power and potential to respond immediately to current developments to stabilize the oil market and prices!"


seems like the saudis want to prevent the fall from going below 48-50. they need oil at $80+ per barrel to balance their budgets, so its likely for them to cut exports to balance the prices and keep them from falling further down from coronavirus panic.