Oil - The only interesting market right now, S&P 500 rally stalling - Oanda

Craig Erlam, Senior Market Analyst at Oanda, discusses the story behind Brent Crude, the losing momentum in FTSE 100, and the stalling rally in S&P 500, along with Zak Mir, Analyst at Zak’s Traders Cafe, and Mike Ingram, Strategist at BGC Partners.

Highlights:

“Brent crude – the only real interesting market right now. Recent drop brought OPEC back.”

“Not sure it the oil correction is over, but we are likely to see downside.”

“FTSE 100 – Long-term resistance at 6850-6900. Weak Pound story. Losing little bit of momentum.”

“S&P 500 – Rally is stalling. Momentum indicators suggest momentum is lacking. We could see a pullback towards 2100.”