WTI Crude Update: De escalations of US/Iran tensions will offer selling opportunties across oil markets.
- US de escalation of US/Iran tensions. Rhetoric confirmation over the coming weeks will fuel our short bias lower toward $50 per barrel.
- EIS/API record supply & bearish inventory figures near backend of 2019.
- Price remains largely rangebound, fading 2019 highs with bulls failing to push through 200DMA with any conviction.
- +20% move on the table toward our buyside liquidity target of $50 per barrel.
- Sensitivity remains to the downside from here. We have added bearish exposure to our macro & directional portfolios.
- US de escalation of US/Iran tensions. Rhetoric confirmation over the coming weeks will fuel our short bias lower toward $50 per barrel.
- EIS/API record supply & bearish inventory figures near backend of 2019.
- Price remains largely rangebound, fading 2019 highs with bulls failing to push through 200DMA with any conviction.
- +20% move on the table toward our buyside liquidity target of $50 per barrel.
- Sensitivity remains to the downside from here. We have added bearish exposure to our macro & directional portfolios.
評論:
Should see price pivot here from the 200DMA. Would like to see some impulsive conviction to the sell side and follow through from here