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
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
The dollar weakened, equities fell, and gold set new records on Wednesday as investors waited for a Fed rate cut later in the day.
Pi Network Price Annual Forecast: PI Heads Into a Volatile 2026 as Utility Questions Collide With Big UnlocksPi Network heads into 2026 after a 90%+ 2025 drawdown from $3.00, with 17.5 million KYC users and a smart-contract-focused Stellar v23 upgrade offering upside potential, but 1.21 billion tokens unlocking and heavy exchange deposits (437 million PI) keeping supply pressure and trust risks firmly in focus.
Pi Network heads into 2026 after a 90%+ 2025 drawdown from $3.00, with 17.5 million KYC users and a smart-contract-focused Stellar v23 upgrade offering upside potential, but 1.21 billion tokens unlocking and heavy exchange deposits (437 million PI) keeping supply pressure and trust risks firmly in focus.
Silver price (XAG/USD) recovers some lost ground to near $76.60 during the Asian trading hours on Friday. The white metal suddenly fell late Thursday, pushing silver down more than 11%.
Bitcoin is nearing a level on the MVRV ratio that historically lines up with market “undervaluation,” according to CryptoQuant contributor Crypto Dan, as traders look for signs that a four-month
Related Instrument
