Crude Oil proves resilient to the downside – TDS
Source Fxstreet
Crude Oil continues to prove resilient, with inventory draws offering modest support to the complex, TDS strategists say.
Crude Oil stays strong amid CTA buying
"We still argue that the rally could start to fade as Commodity Trading Advisors (CTA) buying flows taper off. Prices below $81.73/bbl and $85.46/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
Geopolitical Premium Strikes Back. Hormuz Strait Reopening Faces Changes, Bitcoin Barely Holds 70,000 Psychological LevelMiddle East tensions escalate ahead of negotiations, causing Bitcoin to pull back after a surge, with $70,000 becoming the watershed between bulls and bears.On April 9, unexpected develop
Middle East tensions escalate ahead of negotiations, causing Bitcoin to pull back after a surge, with $70,000 becoming the watershed between bulls and bears.On April 9, unexpected develop
The outlook for navigation through the Strait of Hormuz remains clouded by uncertainty, as the newly reached ceasefire agreement has failed to bring stability to this global energy choke
Gold price (XAU/USD) trades in negative territory around $4,705 during the early Asian session on Thursday. The precious metal edges lower amid a temporary two-week ceasefire between the US and Iran.
Gold (XAU/USD) once again shows some resilience below the $4,700 mark during the Asian session on Thursday, and for now, seems to have stalled the previous day's retracement slide from a three-week high.
The U.S.-Iran ceasefire agreement triggered a surge in Bitcoin of over 4%, with the Islamabad negotiations starting this Friday serving as a key driver for further gains.On April 8, a bri
Related Instrument
