Iranian Fireworks Sends Oil Skyward

The news that Iran shot missiles in a military practice exercise has sent oil rallying past near-term resistance on higher volumes.

If you have a good sense of how the geo-political scene will transpire, then you have may have a good trade one way or another. For most other investors, it would probably be advised to stay clear of oil. That said, if tensions with Iran remain tense for any considerable time, expect the rise in oil to continue, putting pressure on a weak global economy.