Free Trial

Energy, Metals Consolidate, But Still Tightly Wound

COMMODITIES
  • Oil markets are consolidating ahead of the Tuesday open, with WTI and Brent crude futures in minor negative territory at pixel time. WTI has, so far, traded wholly inside the Monday range, with directional triggers unchanged at $63.90 and the $62.51 50-dma, with the May 5 high at $66.76 the key upside level.
  • In metals space, gold and silver are recovering off the overnight lows as the greenback edges lower, but there's been little momentum pick-up on the way into Monday's highs. For gold, resistance is expected headed into $1845.51, with silver's next level seen at $27.88.

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.