Market Analysis by covering: S&P 500, Crude Oil WTI Futures, United States 2-Year, United States 10-Year. Read 's Market Analysis on Investing.com
Oil prices tick down, set for weekly losses on Middle East de-escalation hopesfinished lower on Thursday by more than 1.7%, extending the decline from its late-January intraday highs to roughly 7.5%. That bear pennant, as mentioned before, broke cleanly to the downside — the index gapped below the lower trendline and never looked back.
If this is a true pennant — and the way it played out certainly suggests it is — then the decline is likely not over. There’s the infamous JPM collar options positioning level at 6,475, and it could act as a floor in the near term, but the broader question is whether it can actually hold in a market where dealer positioning is this negative. When dealers are in a selling posture, support levels that would normally matter can get steamrolled. We’ll just have to see how it plays out.surged to its highest level since June, and it’s now approaching a level where, if it clears the next area of resistance at 4.05%, there isn’t much standing in its way until the 4.30% and greater area. Sounds aggressive, but then again, so did the 2-year trading at 4% just a couple of weeks ago — and here we are.is approaching a critical juncture as well. If it pushes through its current resistance zone around 4.4%, the path opens up toward levels that would bring it back to its long-term downtrend. That would be a significant development for risk assets across the board.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
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