On April 6, 2026, at 8:59 PM ET, Mark L. Newton, CMT, Head of Technical Strategy at Fundstrat Global Advisors, led by Tom Lee, released a video forecast and in his exact works said, "Overall, I expect that WTI Crude oil should peak out this week, and I expect Crude to begin to fall sharply in the next month".
Twenty-four hours later, crude plunged below $100 per barrel. The catalyst was an agreement between the Trump administration and Iran allowing safe passage through the Strait of Hormuz during a ceasefire, rapidly erasing the geopolitical risk premium that had driven prices above $110–$115.
Newton’s technically driven call proved precisely timed as de-escalation news triggered aggressive selling.
