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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.
COMMODITIES
- Oil, natural gas and gold are down heavily today on a combination of Russia-Ukraine negotiations progressing and China locking down Shenzhen (17.5mln people) and restricting travel in Jilin (24mln) on Covid-19 fears.
- The US claiming that China is willing to Russia in providing military assistance has provided relatively little support.
- WTI is -7.3% at $101.35 having briefly dipped below $100. It sits through the initial support of the 20-day EMA of $102.88 and next eyes $95.32 (Mar 1 low), whilst resistance is $115.24 (50% of the Mar 9 range).
- The most active strikes in the Apr’22 contract have been $105/bbl calls followed by $95/bbl puts.
- Brent is -6.7% at $105.14, also through the 20-day EMA and eyeing support of $98.30 (Mar 1 low).
- Gold is -1.8% at $1951.8, through initial support at $1958.8 (Mar 7 low) and next eyeing $1938.2 (20-day EMA).
WTI 1st (white), Gold (yellow)Source: Bloomberg
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.
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