ridethepig | NOK Market Commentary 2020.05.21
A very technical environment here with Germany away from their desks, support clearly defined at the 10.8x lows while resistance towards 11.05x will cap the highs.
With Crude starting to reach interesting levels for sellers the NOK rally will begin to unwind. The supply side can rebalance as much as they like, it will not offset the demand shock:
With Crude starting to reach interesting levels for sellers the NOK rally will begin to unwind. The supply side can rebalance as much as they like, it will not offset the demand shock:
