VCSC Daily - Excitement from oil rally short-lived. Technical barrier comes into play - STB, VGG, VISSAN
Today the market digested yesterday's oil rally, leading to small drop. Global analysts remained skeptical about Monday's rally in oil (Brent, +5.4%) and iron ore (Chinese iron ore, +19%). Commodity rallies are often driven by speculation, and this one proved to be short-lived. Domestic investors seemed to share this view on oil prices as there were waves of profit taking in oil & gas tickers.