Oil Will Soon Meet Resistance And Could Correct Down During This Period [Video]
|The rebound on Equity markets and more general risk assets has been impressive, and it has taken less than two months for US equity markets at least, to reposition in a strong uptrend. Shorter-term, however, the uptrend is approaching exhaustion and we would expect some retracment over the coming weeks. On the Dollar front, the slight consolidation since late last year seems behind us, and over the next few days, we would expect EUR/USD to resume lower. USD/JPY, on the contrary, may correct down along with risk assets. Gold should profit from this environment, until the end of the month at least, while Oil will soon meet resistance and could correct down during this period, before moving higher from end Q1 into midyear, Jean-Francois Owczarczak, Director,
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