The very high correlation between oil and stocks continue with red-coloured prices once again dominating trading screens. The 20% correction which was aggressive in terms of the time it took was disappointing in terms of distance considering the record speculative short position in the futures market. With weak shorts removed the downside is once again back in focus.
from Ole Hansen - Authored content https://www.tradingfloor.com/posts/crude-oil-slides-again-following-feeble-rally-6960659?utm_medium=tf4-feed&utm_source=extract
Crude oil slides again following feeble rally
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