The Aussie (AUD/USD) has bounced off the pivot, which acts as a pullback support and could rise to the 1st resistance which aligns with the 127.2% Fibonacci extension.
Pivot: 0.6619
1st Support: 0.6557
1st Resistance: 0.6689
Oil markets on September 16, 2025, are caught between conflicting forces. While immediate supply disruption risks from Ukrainian attacks on Russian infrastructure and anticipated Federal Reserve rate cuts are providing near-term price support, fundamental market conditions point to significant oversupply ahead. The EIA's projection of massive inventory builds and OPEC+'s continued production increases suggest substantial downward price pressure through 2026, with Brent potentially falling to $50 per barrel despite current geopolitical tensions. The market is essentially pricing in short-term disruption risks while bracing for longer-term oversupply challenges.
Pivot: 0.6619
1st Support: 0.6557
1st Resistance: 0.6689
Oil markets on September 16, 2025, are caught between conflicting forces. While immediate supply disruption risks from Ukrainian attacks on Russian infrastructure and anticipated Federal Reserve rate cuts are providing near-term price support, fundamental market conditions point to significant oversupply ahead. The EIA's projection of massive inventory builds and OPEC+'s continued production increases suggest substantial downward price pressure through 2026, with Brent potentially falling to $50 per barrel despite current geopolitical tensions. The market is essentially pricing in short-term disruption risks while bracing for longer-term oversupply challenges.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.