Some speculation has been the tension between Iran and Israel, some others speculate the US is printing and devaluing the dollar and thus crude has adjusted, but it's one heck of a parabolic adjustment and from what I see and posted yesterday, it looks like the dollar is starting or rather has been seeing the move toward accumulation while the Euro has seen a move toward distribution as well as the trend that would accompany that.
Today we have a third "possibility" and I use the term loosely because of the underlying trade and the actual parabolic trade and all the other reasons I posted this a.m., but it is something to consider.
This news broke today about the former French colony, According to the BBC:
"Turkey and members of the Arab League have called for "urgent measures" to protect Syrian civilians from a brutal government crackdown.
At a meeting in Morocco, they also declared they were "against all foreign intervention in Syria". Why would they say that?
The statement came hours after reports that rebel Syrian troops had attacked a major military base near Damascus.
In another sign of Syria's increasing international isolation, France said it was withdrawing its ambassador.
Foreign Minister Alain Juppe told parliament: "There has been renewed violence in Syria, which has led me to close our consular offices in Aleppo and in Latakia as well as our cultural institutes and to recall our ambassador to Paris."
These are the times I wish I still had my Stratfor subscription.
Now that France has dispatched with Gadaffi for almost identical reasons, I wonder how many more foreign ambassadors may quietly exit the country?
Of course Iran being Syria's closest ally and neighbor would likely not look favorably on UN/NATO/US or Israeli intervention in their backyard.
Something is definitely going on that we are not aware of, or this is one of the biggest head fakes crude has seen in years.
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