Crude Oil continues to prove resilient – TDS
Source Fxstreet
Upside momentum firming and Commodity Trading Advisors (CTAs) in Crude Oil remain on the bid, TDS commodity strategists note.
Markets look to take profits on Oil
“Crude oil continues to prove resilient, with upside momentum firming and CTAs remaining on the bid. However, we still argue that the rally could start to fade as these CTA flows taper.”
“Indeed, any drop below $80.33/bbl and $84.92/bbl for WTI and Brent crude, respectively, would see CTAs ease up on their buying and liquidate a portion of the recently acquired length.”
“Aside from the resurgent CTA flows, 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
WTI (USOIL) is down 2.13% at Sep 22 05:55(ET), now at $89.999, with a 7-day down of 12.84%.What is driving WTI (USOIL)’s stock price down today?The retreat in US crude oil benchmark prices was primari
Bitcoin Surges to Briefly Break $87,000; Where Is the Next Key Resistance Level?On September 22, Bitcoin (BTC) strongly broke through the past month's resistance level of $82,000, surging
Bitcoin holds above $86,000 as four of five majors hit 3-month highs — why XRP is the odd one outBitcoin broke above $86,000 for the first time since late January and four of the five largest cryptocurrencies hit three-month highs — but XRP, despite leading the 24-hour gains, is the only one that failed to confirm. Roughly $900 million of leveraged positions were liquidated in 24 hours, with shorts making up 86-90% of the total.
Bitcoin broke above $86,000 for the first time since late January and four of the five largest cryptocurrencies hit three-month highs — but XRP, despite leading the 24-hour gains, is the only one that failed to confirm. Roughly $900 million of leveraged positions were liquidated in 24 hours, with shorts making up 86-90% of the total.
Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonightThe dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.
The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.
Bitcoin (BTC) market conditions improved over the past week as spot buying pressure strengthened and derivatives positioning increased, pushing the top crypto near $86,000.
Related Instrument
