Founder & Chief Market Strategist - SAV Markets, SAV Markets

Shyam Devani

Shyam Devani provides key market commentary encompassing analysis of Foreign Exchange, Fixed Income, Commodities, and Equities globally – both in G10 and Local Markets. He takes a multi asset class approach incorporating fundamental, behavioural, and historical trends as well as technical signals.

Shyam has delivered strategic market insights to a number of trading desks and institutional clients internationally (funds/corporates/banks) through written publications, presentations, face to face meetings and conferences. He has had numerous appearances on CNBC, Bloomberg, and Singapore Radio providing his short and medium term views on markets while being the front office media commentator during his time at Citi.

He has been commentating on financial markets since 2004. Since 2006, he was running one of Citi’s top market products, CitiFXTechnicals, initially in London followed by Singapore where he took a lead role in enhancing the coverage of markets in Asia.

Founder & Chief Market Strategist - SAV Markets

Crude Buy Support/New High and Bigger Top

Weekly Oil Views: Crude Rally Perplexes, Riding on the Coattails of Gas Crunch

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Commodities

The rally in the Oil price since the end of August has already met it’s $85 target two weeks ago. Overhead there are numerous levels that converge just below $90 including the major high seen in 2018Having effectively tested that 2018 level at $86.74 this week (the high was $86.70) we have come off and are now in line for a bearish weekly reversal at the trend highs - Friday’s closing price will be important.Given the broad crisis in energy in many parts of the world, it was thought that a cooling off in the Oil price may be seen as a relief of sorts in this market. That however has been negated by the bounce back in natural gas prices. Unfortunately, the indications seen here are still very much pointing to an ongoing crisis.In the near-term watch for a pullback in Oil, the S&amp;P 500 Energy Sector and the European Oil &amp; Gas Sector. However, do not expect these declines to last beyond the short term and do not expect the rise in Natural Gas prices to change.

The rally in the Oil price since the end of August has already met it’s $85 target two weeks ago. Overhead there are numerous levels that converge just below $90 including the major high seen in 2018Having effectively tested that 2018 level at $86.74 this week (the high was $86.70) we have come off and are now in line for a bearish weekly reversal at the trend highs - Friday’s closing price will be important.Given the broad crisis in energy in many parts of the world, it was thought that a cooling off in the Oil price may be seen as a relief of sorts in this market. That however has been negated by the bounce back in natural gas prices. Unfortunately, the indications seen here are still very much pointing to an ongoing crisis.In the near-term watch for a pullback in Oil, the S&amp;P 500 Energy Sector and the European Oil &amp; Gas Sector. However, do not expect these declines to last beyond the short term and do not expect the rise in Natural Gas prices to change.

Crude Oil

A Crude Update