Insight - Futures Report

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Futures Report: World Affairs Brings The Bears

Technical indicators for the current period highlighted similar trends across product groups. Brent’s RSI has been hovering around overbought territory, with price action oscillating around the $90/bbl mark throughout the week.

Futures Report – Back to $100/bbl?

Technical indicators for the current period highlight contrasting trends across product groups. Brent’s RSI remains in overbought territory, reflecting recent sharp price increases tempered by easing Middle East tensions. Gasoil shows renewed strength, with a firm RSI and widening Bollinger

Back to the Futures

Technical indicators for June revealed a week of softening prices in a risk-off attitude across the product groups.

Futures Report: Price Action Stagnation

Technical indicators for June revealed a week of consolidation and widening Bollinger bands. Brent’s RSI briefly entered overbought territory before coming off as prices corrected lower.

Brent FutureZzzzz

In this weeks Futures report, technical indicators were slightly more bullish in the past week in Brent, Gasoil and RBOB with prices generally seeing an upward trend and the RSI’s overall around or above 50.

Interest in Brent Goes Missing

Last week, the futures market was supported overall with an overall strong crude market as well as some gains in American gasoline. Here is a summary of what happened:

Brent Bracing for Bears?

In Brent, May prices strengthened slightly over the past week with the RSI also showing signs of upward momentum as it crossed overbought territory on Feb 22, at 79. The May RBOB contract traded within Bollinger band although the RSI crossed overbought territory, sitting at 71 on Feb 22. Gasoil on the other hand is well in neutral territory as prices initially came off to retrace higher towards the end of the week.

Futures Report: Go Long Or Go Home

In Brent, Apr prices have continued to strengthen, hovering around the $82.50/bbl mark. Nonetheless, from a technical perspective, prices remain firmly within neutral territory on both a Bollinger band and RSI basis.

Gasoline Still Pumping?

Prices have strengthened in the Brent futures, RBOB futures and the ICE LS gasoil futures for the Apr tenor. From a technical perspective, the Apr Brent and RBOB futures are in neutral territory with the RSI around the 60-handles, signalling upward momentum.

Future Horizons: A Prudent Perspective

After last weeks bearish run saw a crash from geopolitical risk derived highs, Onyx research suggests cautious room for growth in Brent as tensions in the Middle East escalate.

Filibustering Futures: Onyx report 22-01-24

Brent futures strengthened on the week although remained within neutral territory, with the RBOB and gasoline following in Brent’s neutral footsteps. WTI/Brent boxes remained in contango despite strength in the prompt while refinery margins saw a product driven market with

Powell O Powell, Wherefore art thy Powell?

With Brent futures reaching oversold territory for the second time in a month, we expect to see a resurgence of speculative long players waiting to buy at these cheap levels, yet the market saw limbo this week, as players await

A look into the future(s)

This week we see our favourite futures remain in neutral territory, awaiting with bated breath the decisions of OPEC+’s delayed meeting. Despite the shift in de-risking seen in Brent, the past week has shown increasing correlation between the crude complex and the product futures despite gasoil and heating oil showing upward momentum on the back of tight fundamentals and because *cue Ned Stark voice* winter is coming.