Free Trial

Price Signal Summary - Bearish Threat In WTI Remains Present

OUTLOOK
  • On the commodity front, the recent strong reversal in Gold signals the end of the recovery between Sep 28 - Oct 4 and note that price has moved below the trendline resistance drawn from the Mar 8 high. The focus is on $1615.0, the Sep 28 low.
  • In the Oil space, WTI futures traded lower Friday to register a fresh low for the week. This reinstates a short-term bearish theme and opens $84.94 and $82.89, 50.0% and 61.8% retracement points of the Sep 26 - Oct 10 rally. Price Signal Summary - WTI Bear Threat Remains Present

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.