By John Kemp
The CFTC is looking into Monday’s oil price drop and is collaborating with Britain’s Financial Services Authority FSA which regulates the London-based Brent market. CME Group, which operates one of the two principal oil markets, has described the drop as a “coordinated selloff” not caused by any technical failures. Intercontinental Exchange ICE, which runs the main Brent contract, has declined to comment on whether it saw any unusually big orders placed during the period. It did, however, say: “Following rumors regarding the Strategic Petroleum Reserve SPR, volume was widely distributed and oil prices declined over a period of time. Circuit breakers were not triggered and markets were orderly.”
via When Oil Prices Drop in a 'Flash': Is It Real?.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.