Ned Davis Research Group ask what it would take to make them bullish on oil. They point out that rallies often await on the other side of super contango, yet they remain bearish on crude oil for the time being.
Seasonality will lift Brent Crude for the next few months but after that downward pressure will prevail for the rest of the year, according to David Linton, Chief Executive at Updata.
GBPUSD has broken below a bearish rising wedge and is heading towards parity, says Walter Zimmermann, Senior Technical Analyst at United-ICAP.
Prices are close to breaking 2-year support levels on EURJPY, according to Riccardo Ronco, Head of Technical Analysis at Aviate Global.
A broad based commodities rally may soon be upon us, according to James Dima, technical analyst at Marex Spectron.
Peter Lee, Chief Technical Strategist at UBS in New York, gives his technical outlook for 69 large cap stocks.
Deeply pessimistic sentiment conditions, evidence of short-term selling exhaustion, and the S&P 500’s successful test of 1810 argue for a countertrend rally, according to Ari Wald, Technical Analyst at Oppenheimer.
A ‘corrective’ interpretation of recent S&P market action is a better fit than an interpretation which thinks the bull market is over, according to Ron Meisels, President of independent research house Phases & Cycles.
Two levels are key for USDJPY and will determine whether the price action of the last six months has been a correction only or something more bearish, says Tony Sycamore at Commonwealth Bank of Australia.
The FTSE is en route to just under 5300, according to Andrew Gebhardt and Tom Read of HPC SA.