MNI China Press Digest Jan 7: CPI, New Loans, Local Bonds

MNI: PBOC Net Drains CNY150.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1879 Tues; -2.42% Y/Y

MNI China Daily Summary: Monday, January 6

MNI INTERVIEW2: China Central Gov Should Buy Unsold Houses

MNI China Press Digest Jan 6: PBOC Bills, Yuan, Capital Market

MNI: AUSTRALIA NOV BUILDING APPROVALS -3.6% M/M, +3.2% Y/Y

MNI: AUSTRALIA DEC DWELLING APPROVALS -3.6% M/M

MNI: UK BRC DEC BY VALUE SHOP SALES LFL +3.1% YY, TOTAL +3.2% YY

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COMMODITIES: Gains for WTI Futures Expose Key Short-Term Resistance at $76.41

COMMODITIES
EM BulletCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

WTI futures traded higher last week as the contract extended recent gains. A stronger reversal to the upside has exposed key short-term resistance at $76.41, the Oct 8 high. A firm resistance at $71.97, the Nov 7 high, has been breached, strengthening a bullish theme. On the downside, a reversal lower would expose support at the 20-day EMA, at $70.49. This average is seen as a key short-term support. A bear threat in Gold remains present despite the latest recovery, The yellow metal traded sharply lower on Dec 18 and the move undermines a recent bull theme. A resumption of weakness would open key support at $2536.9, the Nov 14 low. The first firm support to watch is $2583.6, the Dec 19 low. On the upside, a resumption of gains would instead signal scope for a climb towards resistance at $2726.2, the Dec 12 high.

  • WTI Crude down $0.14 or -0.19% at $73.83
  • Natural Gas up $0.29 or +8.5% at $3.637
  • Gold spot down $8.18 or -0.31% at $2631.91
  • Copper up $1.45 or +0.36% at $409.1
  • Silver up $0.13 or +0.44% at $29.7411
  • Platinum up $9.26 or +0.99% at $948.25
184 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.

WTI futures traded higher last week as the contract extended recent gains. A stronger reversal to the upside has exposed key short-term resistance at $76.41, the Oct 8 high. A firm resistance at $71.97, the Nov 7 high, has been breached, strengthening a bullish theme. On the downside, a reversal lower would expose support at the 20-day EMA, at $70.49. This average is seen as a key short-term support. A bear threat in Gold remains present despite the latest recovery, The yellow metal traded sharply lower on Dec 18 and the move undermines a recent bull theme. A resumption of weakness would open key support at $2536.9, the Nov 14 low. The first firm support to watch is $2583.6, the Dec 19 low. On the upside, a resumption of gains would instead signal scope for a climb towards resistance at $2726.2, the Dec 12 high.

  • WTI Crude down $0.14 or -0.19% at $73.83
  • Natural Gas up $0.29 or +8.5% at $3.637
  • Gold spot down $8.18 or -0.31% at $2631.91
  • Copper up $1.45 or +0.36% at $409.1
  • Silver up $0.13 or +0.44% at $29.7411
  • Platinum up $9.26 or +0.99% at $948.25