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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
- Crude oil prices are down -2.2% as progress in Iranian nuclear talks and the prospect of additional supply offset heightened Russia-Ukraine conflict fears.
- Prices spiked overnight on Donbas shelling headlines setting up for swings for the most of the day on various mixed messages in response.
- WTI is -2.2% at $91.6, with dips seen as corrective for now whilst it sits above the key short-term support of $88.41 (Feb 9 low). Resistance is $95.82 (Feb 14 high).
- Brent is -2.2% at $92.76, with underlying bullish sentiment as it sits above key short-term support at $89.93 (Feb 8 low). Resistance is seen at $96.78 (Feb 14 high).
- Gold meanwhile is on for another strong day, up 1.7% at $1900.62 thanks to its safe haven and inflation hedging properties. It earlier cleared resistance at $1881.6, opening 2021 highs with next resistance at $1903.1 (Jun 11, 2021 high) and then the medium-term upside target at $1916.6 (Jun 1, 2021 high).
Gold 1st futureSource: 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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