Trial now
SCHATZ TECHS

(M1) Clears Congestion Support

BTP TECHS

(M1) Downtrend Extends Further

BOBL TECHS

(M1) Bearish Breakout Cemented

USDJPY TECHS

Fierce Bounce, But Needs to Stick

BUND TECHS

(M1) Takes Out Key Support

EURUSD TECHS

Taking on Weight

Crude Keeps Climbing

OIL

Crude futures continue to rally, breaching the highest levels since May 2019. Futures are up around $0.40 with WTI changing hands at $58.40/bbl and brent consolidating gains above $60/bbl at $61.03/bbl.

  • The mood is positive in Asia-Pac trade with risk assets supported as the US inches towards a bumper stimulus plan.
  • Contrary to yesterday where Vitol and Gunvor sounded a cautious note on oil markets, Trafigura said it sees prices moving even higher as refiners increase processing rates to meet rising demand.
  • Meanwhile, market participants are looking for fresh cues on supply dynamics in the upcoming inventory reports from the API, due later today, and the US DOE, due on Wednesday.