The boring weekend consolidation phase WTI oil prices are holding steady in the $76-$78 range. As long as the U.S. and Iran don’t escalate over the weekend, we’re good. Then there’s this news: 'Negotiations underway for a new shipping route in the Strait of Hormuz.' Still optimistic about the direction—let’s speed up those talks. Hopefully, we’ll see concrete updates on the Strait of Hormuz navigation situation next week. If oil prices drop further during the meeting, my target close-out price is below $72. Fingers crossed we see that next week. If geopolitical tensions continue to cool, and oil prices dip below $75, it’ll be a boost for U.S. stocks and $BTC too. Especially keeping an eye on $SPCX—let’s see if it can push higher when the market opens on weekdays. Honestly, I didn’t expect it to close around $134 on Friday. I know it’s unrealistic for $SPCX to surge too high (like near $150 or beyond), but hey, I’m still hoping for the best. Also, next week we’ve got the July CPI data coming out. My personal guess? It might be good news—meaning inflation could continue to weaken. Whether it’s the confirmation of the new Strait of Hormuz route or solid July CPI data, while it doesn’t necessarily mean a full reversal for risk markets, at least the macro environment seems to be moving in a positive direction. This could keep dampening rate hike expectations and boost the possibility of rate cuts. Let’s see what happens next week. Have a great weekend, everyone! DYOR