How are you reading the oil story right now?

Brent has traded above $100 through September on supply disruption (report), and the IEA expects demand to fall next year (report).

How are you reading the oil story right now? — support and resistance diagram
Price bouncing between support and resistance

Post your synthesis:

  • supply versus demand: which wins in your view
  • how oil is feeding inflation and CAD/NOK
  • the levels you're watching
How are you reading the oil story right now? — moving average crossover diagram
A fast moving average crossing a slower one

Background: oil and the Canadian dollar.

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