The market reaction to OPEC's latest production policy announcement was excessively negative, partly due to many executed trades based on trend-following algorithms, analysts say.
The market reaction to OPEC 's latest production policy announcement was excessively negative, partly due to many executed trades based on trend-following algorithms, analysts say.
The moves from CTAs 'amplify market moves as they tend to sell a bear market and buy a bull market,' Ozkardeskaya wrote in the note. 'Therefore the latest selloff may be overdone.' Oil Sell-off Overdone The sell-off in oil this week is overdone, ING's commodities strategists Warren Patterson and Ewa Manthey wrote in a note on Wednesday.
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