Brent rebounds from key support near $58 – Société Générale

FXStreetJan 13, 2026 10:47 AM

View all comments（0）



Brent Crude has recovered from its April–May low around $58.40 and is now pushing toward the 200-day moving average near $65.75, a level that has capped recent rebound attempts, Société Générale's FX analysts note.

Oil approaches critical 200-DMA

"Brent recently defended the April/May 2025 low at $58.40 and has since staged a gradual recovery. It is now inching toward the 200-DMA near $65.75, an important hurdle. Notably, this moving average has provided resistance to the rebound attempts throughout the recent downtrend."

"A cross above this could lead to a larger up move. Last week’s trough at $59.80 serves as a short-term support."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Oil Prices Plunged 20% in May, Under the Fog of U.S.-Iran Tensions, Where Are Oil Prices Heading?

TradingKey - As the U.S.-Iran conflict enters its third month, the global oil market is grappling with a combination of heightened volatility and uncertainty. In May, international oil prices recorded their largest single-month decline in six years. Brent crude July contracts fell nearly 20%, while West Texas Intermediate (WTI) July contracts dropped nearly 17%, both marking their weakest monthly performance since the onset of the pandemic in March 2020.

Investing 75 Billion Euros. SoftBank Builds Europe’s Largest AI Cluster in France, Masayoshi Son’s Global Layout Places Another Key Piece

TradingKey - On May 31, SoftBank Group announced it will invest up to €75 billion (approximately RMB 592 billion) in France to construct a large-scale AI computing cluster network. This project is set to become Europe's largest data center initiative to date and represents SoftBank's largest single AI investment outside the United States.

Rigetti Computing (RGTI) Stock: $2B Quantum Initiative Fuels Rally — Is Rigetti a Buy at $25.50?

TradingKey - Rigetti RGTI at $25.50 after pulling back from the 2.618 Fib breakout. $2B federal quantum initiative, 36-qubit government delivery, Lyra 100+ qubit late 2026. RSI 59. Target $27.77.

U.S. May Nonfarm Payrolls Preview: Can the Labor Market Open the Door to Rate Cuts? Gold, Dollar, U.S. Stocks Face Key Test

TradingKey - On Friday, June 5 (ET), the U.S. Bureau of Labor Statistics will release the May non-farm payrolls report. The market generally expects U.S. non-farm job growth to slow further from April, with current forecasts ranging from approximately 85,000 to 96,000, compared to the previous figure of 115,000. The unemployment rate is projected to remain around 4.2% to 4.3%, while the month-on-month growth of average hourly earnings is expected to pick up to 0.3%, up from the previous 0.2%.

AMD Q1 Earnings: Data Center Revenue Surges 57% Driving Results Above Estimates, Shares Rise Over 16% After Hours

TradingKey - On May 5 (ET), Advanced Micro Devices (AMD) released its first-quarter fiscal 2026 financial results after the market close. The company reported revenue of $10.253 billion, up 38% year-over-year, exceeding market expectations of $9.89 billion. Non-GAAP earnings per share (EPS) were $1.

Featured Tools