For the first time in 8 years, gold is trading and holding above the $100 handle as geopolitical tension rages on. With the current state of the economy and market environment so negative we see very little appetite for selling in crude oil. In fact, we believe that further tension will push oil towards 110 to 115 range if tension does not deescalate this month. As of now, the only clear intra target we can see in crude oil would be at 108 to the upside with any weak selloff being view as opportunities to buy the dip.