Oil: Inability to overcome $72.75 can lead to persistence in decline – Societe Generale
Source Fxstreet
Brent recently revisited the low of last September at $68.70 resulting in a brief rebound, Societe Generale's FX analysts report.
Break below $70.00 can highlight possibility of one more down leg
"It is now challenging a multi-month descending trend line at $72.75 which could be an interim resistance. It will be interesting to see if Brent can establish beyond this hurdle; this cross is crucial for confirming extension in ongoing rebound."
"Inability to overcome $72.75 can lead to persistence in decline. Break below last week low of $70.00 could highlight possibility of one more down leg."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Is SaaS Dead? The Truth Behind the Software Meltdown, the Missing Floor, and the Peak That’s Not Coming BackOver the past few weeks, you’ve probably seen the same refrain everywhere: “SaaS has crashed this much, valuations must have bottomed, time to buy the dip.”On the surface, that sounds tempting. A lot
Over the past few weeks, you’ve probably seen the same refrain everywhere: “SaaS has crashed this much, valuations must have bottomed, time to buy the dip.”On the surface, that sounds tempting. A lot
Bitcoin network realizes $1.99 billion in losses, rivaling the 2022 Luna crash, though analysts view the $67,000 flush as a cyclical cleanse rather than a structural breakdown.
Financial Markets 2026: Volatility Catalysts in Gold, Silver, Oil, and Blue-Chip Stocks—A CFD Trader's OutlookThe financial world is perpetually in motion, but the landscape for 2026 seems to be shaping up to be particularly dynamic. For CFD traders navigating global markets, this heightened volatility could present a distinctive set of challenges and opportunities.
The financial world is perpetually in motion, but the landscape for 2026 seems to be shaping up to be particularly dynamic. For CFD traders navigating global markets, this heightened volatility could present a distinctive set of challenges and opportunities.
AUD/USD lurches into highs after NFP beats expectationsThe Australian Dollar surged to its highest level since August 2022 on Wednesday after the delayed US Non-Farm Payrolls (NFP) report came in stronger than expected at 130K, well above the 70K consensus, though massive downward revisions to 2025 payroll data (898K lower for March 2025 alone) painted
The Australian Dollar surged to its highest level since August 2022 on Wednesday after the delayed US Non-Farm Payrolls (NFP) report came in stronger than expected at 130K, well above the 70K consensus, though massive downward revisions to 2025 payroll data (898K lower for March 2025 alone) painted
In 2026, Bitcoin (BTC) suffered a Waterloo-style sell-off, with prices quickly retreating to around $60,000 from a period high of nearly $98,000 at the start of the year. Bitcoin is once
Related Instrument
