MNI: SNB CUTS KEY POLICY RATE BY 50 BPS TO 0.5%

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COMMODITIES: WTI Futures Falter at Test on 50-dma

COMMODITIES
EM BulletCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

Gold is unchanged and bulls remain in the driver’s seat. Recent gains confirm a resumption of the primary uptrend and maintain the bullish price sequence of higher highs and higher lows. WTI futures traded in a volatile manner Tuesday and the contract has recovered from its recent lows. Resistance at the 50-day EMA, at $71.63, has been pierced. A clear breach of this EMA is required to highlight a stronger reversal that would open $76.40, the Aug 26 high.

  • WTI Crude up $1.02 or +1.46% at $71.31
  • Natural Gas up $0.03 or +1.11% at $2.92
  • Gold spot down $13.89 or -0.52% at $2645.57
  • Copper down $3.2 or -0.69% at $461.7
  • Silver down $0.34 or -1.05% at $31.534
  • Platinum down $18.47 or -1.83% at $992.64
118 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Gold is unchanged and bulls remain in the driver’s seat. Recent gains confirm a resumption of the primary uptrend and maintain the bullish price sequence of higher highs and higher lows. WTI futures traded in a volatile manner Tuesday and the contract has recovered from its recent lows. Resistance at the 50-day EMA, at $71.63, has been pierced. A clear breach of this EMA is required to highlight a stronger reversal that would open $76.40, the Aug 26 high.

  • WTI Crude up $1.02 or +1.46% at $71.31
  • Natural Gas up $0.03 or +1.11% at $2.92
  • Gold spot down $13.89 or -0.52% at $2645.57
  • Copper down $3.2 or -0.69% at $461.7
  • Silver down $0.34 or -1.05% at $31.534
  • Platinum down $18.47 or -1.83% at $992.64