CTAs will continue to sell crude and industrial metals (x-copper) in most scenarios for prices by this time next week. In the imminent term, CTA selling activity will continue to weigh on price action into the OPEC meeting, TDS' Senior Commodity Strategist Daniel Ghali notes.
According to figures published on Wednesday, the number of certificates in circulation (TNAC) at the end of 2024 stood at 1.148 billion, which was actually around 3% higher than in the previous year, Commerzbank's commodity analyst Barbara Lambrecht notes.
Ethereum (ETH) trades around $2,640 on Thursday, with volatility expected from an upcoming $1.64 billion ETH options expiry on the Deribit exchange. The top altcoin could see over 95% of put options expiring worthless if prices remain at current levels.