USD flows: Oil off, but so is tech
Tech markets looking to extend the pullback even as oil extends the pullback
While oil has extended the pullback to 4-5%, building from the Israel-Iran cessation and Trump's tease to the market on an idea to get a possible deal in the next few days, notable that the tech pullback is very much still on and that can dominate in the near-term if it is maintained. Semiconductors have at the moment posted a bearish engulfing outside daily bar lower and back to testing the the support from the last swing highs If it took that out the next step lower is around 1k down or -8%. VIX isn't running away but it is back above 20.
Certainly something checking the market's enthusiasm and precious metals are off and AUD/USD back to the lows despite the geopolitics. Backs the notion that the recent breaks still have some potential room to run.