U.S. oil is breaking out as Iran war continues. A look at how past peaks have affected stocks
WTI crude oil has extended its steep upmove amid renewed geopolitical uncertainty, which has investors on edge. We revisited previous shocks in the price of crude oil and reviewed the subsequent performance of the S & P 500 Index (SPX) . Specifically, we examined the last four major peaks to get a sense of the impact on the equity market. To frame the recent upmove, we share a monthly bar chart of WTI crude oil, which flashed a monthly MACD buy signal in February, marking the culmination of an extended downtrend off the 2022 highs. The signal supports a continuation











