Oil back in focus as tensions flareBrent Last Day Financial FuturesNYMEX_DL:BZ1!BlueberryIn late June we said oil was looking for a base. The 200 day moving average has provided a strong support level and renewed tensions now back in play, it seems like oil is about to make a new move higher. There's strong support in the high US$70 per barrel range. It doesn't seem like geopolitical tensions are going to be solved anytime soon. There could be more upside in the coming weeks. An additional interesting anecdote - the gold to oil ratio has recently come back to the mid 40x level, down from a peak of around 80x earlier this year. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.