Risk Premium Rises Again, Brent in Caution Mode
Oil remains high ahead of US-Iran talks: Brent remains below $69/barrel, up 1.3% on Monday, while WTI remains near $64/barrel. Meanwhile, precious metals weakened, with gold down 0.9% to around $4,950/ounce and silver down 2.8%, while Asian stocks were flat due to thin holiday trading. The market is now focused on three triggers: the Geneva negotiations (Araghchi met with the head of the nuclear watchdog; Trump said the involvement was indirect), the path of US interest rates (expectations for a cut strengthened; Tuesday's ADP meeting and Wednesday's FOMC minutes), and the "AI scare trade" that is pressuring sectors vulnerable to AI substitution (software, business services, media). (Asd)
Oil price at the time of this analysis was $68.39
- Buy if the price moves below $68.55
- Sell if the price moves below $68.32
Resistance 2: $68.92
Resistance 1: $68.69
Support 1: $68.23
Support 2: $68.00
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider the influence of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id