After Iran fired on three US Navy destroyers sailing through the Strait of Hormuz, the US launched strikes against Iranian military targets. This escalation could undermine the fragile ceasefire agreement and reignite hostilities, despite both sides saying they are discussing ending the war.
The US Central Command said in a statement on Thursday that Iran’s attack on three US warships involved “multiple missiles, drones and small boats”, adding that “no US assets were hit”.
The statement said that the measures taken by the US military in response were to eliminate the “incoming threat” and strike Iranian missile and drone launch sites, command and control locations, and intelligence facilities that were believed to be “responsible for the attack on US forces”.
The latest conflict has intensified the tensions in the region, and the United States is trying to end the war that has lasted for three months. The Trump administration has been waiting for Iran’s response to its proposal to reopen the Strait of Hormuz and end the conflict. This conflict has caused thousands of deaths and triggered a global energy crisis.
“Just as we defeated them again today, if they don’t sign the agreement soon, we will defeat them in a more fierce and violent way in the future!” President Donald Trump posted on social media.
Iranian leaders have yet to indicate whether they will accept the terms of the proposal, despite showing little sign of making concessions on their nuclear program or accepting a suspension of uranium enrichment – both of which are key demands of the United States.
Trump later told reporters that despite the ups and downs in the relationship, the ceasefire was still in effect. He downplayed Iran’s actions while warning that there would be consequences if an agreement could not be reached.
Asian stock markets retreated from record highs as escalating tensions raised concerns over energy supplies. Crude oil prices rose sharply, with Brent crude climbing 2.5% at one point to approach $103 a barrel, ending a three-day losing streak.
Technical analysis:
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Gold: After breaking through 4700/20, the price rose to 4760/70 in one wave. However, after that, a skirmish occurred between the US and Iran, and the gold price dropped to below 4680, refreshing the liquidity. Within the day, we suggest paying attention to the potential test near 4650, and wait for further sweeping of the liquidity before catching the rebound signal. For detailed positions, please consult the plugin.
(Gold 15-minute chart)
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Nasdaq: Yesterday, the buy stop operation we alerted through the blue strategy of our plugin reaped a profit-to-loss ratio of around 3 times. For today, we suggest waiting for the liquidity to be swept around 28,400 before catching the rebound signal. For detailed positions, please consult the plugin.
(NASDAQ 15-minute chart)
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Crude oil: After twice probing near 90 overnight, it swept through the liquidity near 98. Today, we need to wait for confirmation of the new supply zone before continuing with the strategy of selling on the rebound. For detailed positions, please consult the plugin.
(Crude Oil 15-Minute Chart)
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Today’s key financial data and events to focus on:
20:30 US April Non-Farm Payrolls Change (Seasonally Adjusted)
22:00 The preliminary reading of the University of Michigan’s Consumer Sentiment Index for May in the United States
