The $120 oil spike was typical 'peak panic' marking a top, says Bank of America

Paul Ciana expects Brent crude to consolidate and trade between $90 and $110 per barrel after wild moves on Monday, defining a $20/bbl trading range. His technical view signals near-term stabilization rather than a decisive directional breakout, implying limited immediate conviction for oil-driven portfolio shifts.

Analysis

Paul Ciana expects Brent crude to consolidate and trade between $90 and $110 per barrel after wild moves on Monday, defining a $20/bbl trading range. His technical view signals near-term stabilization rather than a decisive directional breakout, implying limited immediate conviction for oil-driven portfolio shifts.