Al Rajhi Bank (RJHIAB: Aa3/ A/ A-) New issue deal: USD 5Y bench Sukuk * IPT at T+125bp area * "IPT...
Find more articles and bullets on these widgets:
The impulsive sell-off in WTI futures continues to accelerate and last week’s move down resulted in the breach of a number of important support levels. The break reinforces a bearish threat and, despite being in oversold territory, signals scope for a continuation of the bear leg. Sights are on $59.39 next, a Fibonacci projection (pierced). Initial resistance is seen at $64.85, the Mar 5 low and a recent breakout level.
Brent futures traded in a volatile manner last week and also traded sharply lower. The move down cancels a recent bullish theme. Price has traded cleared both the 20- and 50-day EMAs. Furthermore, the contract has breached $67.87, the Oct 10 ‘24 low. This signals scope for a continuation towards $91.97, a Fibonacci projection. On the upside, initial firm resistance is seen at $67.95, the Mar 5 low.