The stronger and longer the trend, the bigger the temptation to realize profit. Almost any excuse will do. It does not even have to be an actual development; a rumor or gossip will be sufficient to shepherd the herd towards the exit.
It is 4Q versus 2024, supply deficit against economic malaise, the central bank of the oil world facing the central banks of the developed world.
Yesterday’s two decisive factors in shaping the mood of investors and the direction of risk assets were the Weekly Petroleum Status Report from the EIA and the interest rate decision from the Fed.
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