Brent falls below key 2024 support – Societe Generale
Source Fxstreet
Brent crude has extended its decline after breaching key support levels from earlier in 2024. While momentum indicators suggest the move is stretched, signs of a significant rebound remain elusive, Societe Generale's FX analysts report.
Rebound hurdles lie near $68 zone
"Brent has experienced an extended down move after break below crucial levels of $68.10/68.70 representing troughs of 2024 and March. Daily MACD is registering multi-month lows denoting a stretched decline, however signals of a meaningful bounce are not yet visible."
"Next projections are located at $57.80 and $54. If a short-term rebound develops, graphical levels of $68.10/68.70 could be an important hurdle."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Solana (SOL) Price Underwhelms, Experts Believe Cardano (ADA) and Mutuum Finance (MUTM) Are Set To SkyrocketThe crypto market suffers from jitters which have forced Solana (SOL) to decline 15% resulting in its current price of $131. Whales sold $26 million worth of SOL tokens while founder Anatoly Yakovenko failed to improve the situation through his comparisons of U.S. bonds to the MicroStrategy financial problems.
The crypto market suffers from jitters which have forced Solana (SOL) to decline 15% resulting in its current price of $131. Whales sold $26 million worth of SOL tokens while founder Anatoly Yakovenko failed to improve the situation through his comparisons of U.S. bonds to the MicroStrategy financial problems.
President Donald Trump entered the early stage of tariff negotiations with Japan on Wednesday, escalating what could have been a preparatory discussion into a diplomatic negotiation procedure.
The EUR/GBP cross struggles to capitalize on the previous day's goodish rebound from the 0.8525-0.8520 area or a fresh weekly low and attracts some intraday sellers on Thursday.
Babylon Labs saw an outflow of non-custodial staking, with 14,929 BTC sent to external addresses.
U.S.-Japan Talks Avoid Yen Exchange Rate, BOJ Likely to Cut Growth Forecasts Amid Uncertain Rate Hike ProspectsThe United States and Japan have begun negotiations on tariff-related issues, with statements from President Donald Trump and the Japanese delegation causing fluctuations in the yen exchange rate.
The United States and Japan have begun negotiations on tariff-related issues, with statements from President Donald Trump and the Japanese delegation causing fluctuations in the yen exchange rate.
Related Instrument
