Selling pressure returned to the oil market at the beginning of a new week. OIL.WTI drops over 9% after testing $19 handle earlier in the day. Brent (OIL) started the day below $25 and continued to slide below $24 a barrel. Poor fundamentals, especially oversupply and storage shortage, remain primary causes behind the drop.
OIL.WTI attempts to clear out the support zone ranging around $19.50 after a failed attack on the downward trendline. Source: xStation5
Risk sentiment stabilizes, as elections in Japan weigh on the yen and earnings and CPI come into focus
Daily Summary: Conflict with the Fed Does Not Stop Wall Street📈
⏫Silver surges nearly 7%
The Week Ahead
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
