Free Trial
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 prices rise solidly throughout most of the day, in a reversal of yesterday’s decline as China eases some lockdowns plus Putin saying he Russia will continue its invasion of Ukraine along with potential use of chemical weapons in Mariupol.
- WTI is +7.1% at $101.0. It sits close to the initial resistance at the 20-day EMA of $101.29 whilst support is yesterday’s low of $92.93.
- On a day of strong gains, the most active strikes in the May22 contract are $100/bbl calls followed by $105/bbl calls.
- Brent is +6.7% at $105.1, although close to the 20-day EMA of $105.61 after which it could open $109.9 (Apr 5 high).
- Gold is +0.8% at $1968.9 despite a miss in US core CPI inflation. It has cleared the Mar24 high of $1966.1 with a high of $1978.6. This likely forms initial resistance, closely followed by $1980.3 (the 50% retracement of the Mar 8-29 downleg).
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok