Brent Lingering In $83/bbl Handles
The July Brent futures flat price has experienced a morning of mixed price action. From a level of around $83.50/bbl at 06:00 BST, the price edged slowly down to its daily low of just over $83/bbl at 09:30 BST.
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Daily Trade Idea: 14/05/2024
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Alpha Potter and the Chamber of Trades
With another week comes a fresh slew of trade ideas by Onyx Research. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft methods on Onyx Commitment of Traders (COT) and Flux Financials data.
Brent Indecisive In $83/bbl Handles
The July Brent futures flat price has had a mixed afternoon, initially having a mini rally to $83.40/bbl by 13:40 BST before swiftly dipping to $83.15/bbl at 14:05 BST.
Futures Report: Oil – The Only Bear in Town?
Technical indicators indicated sideways price action in Brent and gasoil futures as the RSI moved out of oversold territory, with the lower Bollinger band providing a level of support. On the other hand, RBOB futures continued its downwards slide with the RSI remaining in oversold territory, as bearish sentiment continued to permeate the complex.
CFTC Report: Who Can Tame the Bears?
For the week to May 07, we saw strongly opposing positions adopted by prod/merc players across the two benchmarks, whilst money managers took similar approaches.
Brent Forecast: 13th May
July Brent futures witnessed a passive week, as price action remained tight between a range of $81.50-84.50/bbl. There was a slight rally to $84.53/bbl in the early stages of May 10, before prices got scared off the $85/bbl mark and
Brent Back Above $83/bbl
The July Brent futures flat price has been well-supported this morning, rising from its low of $82.40/bbl at 06:40 BST to a peak of $83.20/bbl at 10:20 BST.
Daily Trade Idea: 13/05/2024
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Brent Retraces To $83/bbl Levels
The July Brent futures flat price has had a limp afternoon, beginning at a high of $84.45/bbl at 12:00 BST, before a small retracement down to $84.05/bbl at 14:05 BST, at which point it immediately regained its losses, rising to $84.40/bbl by 14:35 BST.