Crude prices may be on the cusp of a breakdown – TDS

Downside pressures for Crude oil continue to grow as physical demand trends continue to deteriorate. Crude prices may be on the cusp of a breakdown, TD Securities Senior Commodity Strategist Daniel Ghali suggests.

Downside pressures on oil prices continue to grow

“Algos are also being whipsawed in WTI crude, but downside pressures continue to grow as physical demand trends continue to deteriorate.”

“Our simulations of future prices now suggest that it will take an uptape to prevent deteriorating trend signals from catalyzing large-scale CTA selling activity over the next week. Crude prices may be on the cusp of a breakdown.”