Brent rebounds from key support near $58 – Société Générale
Source Fxstreet
Brent Crude has recovered from its April–May low around $58.40 and is now pushing toward the 200-day moving average near $65.75, a level that has capped recent rebound attempts, Société Générale's FX analysts note.
Oil approaches critical 200-DMA
"Brent recently defended the April/May 2025 low at $58.40 and has since staged a gradual recovery. It is now inching toward the 200-DMA near $65.75, an important hurdle. Notably, this moving average has provided resistance to the rebound attempts throughout the recent downtrend."
"A cross above this could lead to a larger up move. Last week’s trough at $59.80 serves as a short-term support."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Wall Street is flashing inflation warnings. From the bond market to the C-suite, signals are mounting that the US-Israeli strikes on Iran could reignite the price pressures the Federal Reserve has spe
The Ethereum price enters March after a brutal February that delivered close to 20% losses. ETH has now posted six consecutive red months starting from September 2025, a streak unprecedented in the to
XRP price continues to trade under a prolonged downtrend that has limited sustained upside for months. The altcoin has repeatedly failed to reclaim key resistance levels. While short-term sentiment sh
The Commodity Futures Trading Commission (CFTC) plans to allow U.S. crypto perpetual futures within weeks.
Chainlink connects $5B cbBTC to Monad via CCIP, expanding cross-chain Bitcoin liquidity accessChainlink expanded its cross-chain infrastructure after integrating Coinbase’s wrapped Bitcoin token, cbBTC, with the Monad blockchain through its Cross-Chain Interoperability Protocol (CCIP). The connection enables more than $5 billion in cbBTC supply to be accessible to decentralized finance (DeFi) applications operating on Monad. The move strengthens Chainlink’s position in cross-chain and institutional infrastructure. cbBTC goes […]
Chainlink expanded its cross-chain infrastructure after integrating Coinbase’s wrapped Bitcoin token, cbBTC, with the Monad blockchain through its Cross-Chain Interoperability Protocol (CCIP). The connection enables more than $5 billion in cbBTC supply to be accessible to decentralized finance (DeFi) applications operating on Monad. The move strengthens Chainlink’s position in cross-chain and institutional infrastructure. cbBTC goes […]
Related Instrument
