Post-OPEC+ oil price recovery fades away – TDS
Source Fxstreet
Crude Oil's recovery could start to fade as upside momentum eases, TDS Senior Commodity Strategist Ryan McKay notes.
Markets may halt their Brent and WTI buying program
“In WTI crude, Commodity Trading Advisors (CTAs) will need to see prices breakthrough $80/bbl to see a continuation of the recent buying program, while liquidations appear to be the more likely risk with downside triggers at $78.36/bbl. Brent crude could also see selling on a failure to break through the $83/bbl level.”
“Indeed, while the market has recovered nicely from the OPEC driven knee-jerk lower, there is still more relative concern about Q4 balances and beyond, which should serve as a resistance to major upside.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Last week, U.S. stocks experienced volatility triggered by Donald Trump's remarks on imposing tariffs on Europe. The Dow fell 0.53% for the week, the S&P 500 slipped 0.35%, and the Nasdaq
Cardano trades near $0.34 after three weeks of declines, with Binance futures open interest down to $108.55M and bearish RSI/MACD signals keeping risks tilted toward $0.32 and potentially $0.27.
Bitcoin Slides Into Weekly Close as Bulls Confront $86K Price TestBitcoin has started to lose momentum as U.S. futures prepare for opening, with markets bracing for anticipated volatility catalysts. The cryptocurrency witnessed multi-day lows leading up to the end of the week, as investors face a looming period of macroeconomic uncertainty.
Bitcoin has started to lose momentum as U.S. futures prepare for opening, with markets bracing for anticipated volatility catalysts. The cryptocurrency witnessed multi-day lows leading up to the end of the week, as investors face a looming period of macroeconomic uncertainty.
Yen Exchange Rate’s Shock Jump. Dropping 200 Pips Near 160 Level, BOJ’s Inaction Hides a Mystery, Buy the Dip or Seek Safety?The 'rollercoaster' Yen has once again become the focus of the foreign exchange market! On January 23, USD/JPY experienced a series of 'rollercoaster' short-term movements, plunging nearl
The 'rollercoaster' Yen has once again become the focus of the foreign exchange market! On January 23, USD/JPY experienced a series of 'rollercoaster' short-term movements, plunging nearl
The AUD/JPY cross retreats nearly 130 pips from the highest level since July 2024, around the 109.00 mark touched earlier this Friday, though the pullback lacks follow-through.
Related Instrument
