Oil is the most oversold asset globally – BofA (CL1:COM:Commodity)

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Oil is the most oversold asset globally – BofA (CL1:COM:Commodity)

Jan. 10, 2025 12:48 PM ETCrude Oil Futures (CL1:COM)QQQ, SPY, DIA, GLD, IAU, EEM, LQD, TIP, IVV, EWJ, EPP, VGK, VWO, FEZ, IEV, OIH, EWU, USO, GDX, DXJ, QLD, XME, XOP, UUP, SPEM, HYG, BIL, SPTL, SPTI, GOVI, PCY, PHB, JNK, EWX, SGOL, SCHE, GDXJ, HEDJ, BNO, JJMC, VOO, REMX, DUST, NUGT, PFIG, EWUS, RING, PICK, OUNZ, IEMG, USDU, IEUR, GUSH, ESG, BAR, FLGB, JPMB, IGSB, BBAX, SP400, SP500, SP600, AVEM, STOXX, UKX, JJMTF, BCIM, OFOSBy: Monica L. Correa, SA News Editor

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Oil (USO) is the most oversold asset around the world, with flows down 5% from their 200-day moving average, BofA Securities data showed.

Oil also had the highest ranked returns in 2024, up 2.2%, and hedge fund positioning for oil futures (


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