While US crude put in for a moderate decline Friday (the third consecutive contraction) it is a fair fundamental assessment to suggest that the bearish move was far more reserved than what is justifiable. From the recent peak in the market’s upswing, the active Nymex crude futures contract has slipped only 2.7 percent. For comparison, the S&P 500 plunged 2.9 percent just through Friday’s active session.
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[Source: DailyFX Forex Market News]
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