Sterling received a lifeline on Wednesday, after UK services unexpectedly accelerated in September, easing some concerns over the health of the economy.
Gasoline versus oil supply is one reason the petroleum markets are struggling. A full gasoline tank, as far as supply goes, is overshadowing the big crude oil supply draw.
Both oil contracts have fallen sharply since peaking last week, when Brent hit its highest level since July 2015 of almost $59.50 and WTI rallied to its best level since mid-April of this year.
Al Brooks provides bar-by-bar analysis on a five-minute chart of the previous day’s price action in the E-mini S&P 500. This is his analysis for Tuesday, October 3, 2017.
