It seemed that today’s session was once again dictated by technical and macro forces, though an overall bearish fundamental sentiment continues to hang on the board.
The break beneath 16.00 today was likely partially due to a bearish close last night and technical follow-through hitting the market this morning.
A weak overall commodities picture may have put some macro pressure on the board, too, helping to keep October under 16.00, as the UBS Commodities index fell 0.84% over the course of the session.
A stronger Brazilian real – up about 0.50% - may have also limited the technical bearish momentum we saw under 16.00 today as well.
But finally posting a close underneath this level certainly seems to lower the goal posts on our current market range, and we now have a downward target on 15.72, the yearly low.
It seemed that today’s session was once again dictated by technical and macro forces, though an overall bearish fundamental sentiment continues to hang on the board.
The break beneath 16.00 today was likely partially due to a bearish close last night and technical follow-through hitting the market this morning.
A weak overall commodities picture may have put some macro pressure on the board, too, helping to keep October under 16.00, as the UBS Commodities index fell 0.84% over the course of the session.
A stronger Brazilian real – up about 0.50% - may have also limited the technical bearish momentum we saw under 16.00 today as well.
But finally posting a close underneath this level certainly seems to lower the goal posts on our current market range, and we now have a downward target on 15.72, the yearly low.
การแปล กรุณารอสักครู่..
