Podcast: Resistance In US Markets, The Crude Oil Reversal On The Threats And OPEC Meeting

Weekly Commitment of Traders update - Buying of crude oil moderated, ICE gas oil net long reduced to a 30-month low

Summary:  Today we look at the short squeeze in equity markets finding surprising further strength yesterday and note that key resistance in US markets has already come into view as the "central bank pivot" narrative may struggle to find further sustenance when most of what we have seen may have just been a temporary improvement after a scary episode driven by UK gilt market contagion that eased. We also look at the status of FX markets, the crude oil reversal on the threats of an actual large production cut from OPEC+ today, Tesla and Twitter after Musk u-turned on his intent to challenge the deal, Tesco and semiconductor stocks and much more. Today's pod features Peter Garnry on equities, with John J. Hardy hosting and on FX.

Listen to today’s podcast - slides are found via the link.

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Source: https://www.home.saxo/content/articles/podcast/podcast-oct-5-2022-05102022

Weekly Commitment of Traders update - Buying of crude oil moderated, ICE gas oil net long reduced to a 30-month low

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