MNI: China CFETS Yuan Index Down 0.05% In Week of Jan 17

MNI: PBOC Net Injects CNY98.2 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1886 Mon; -1.80% Y/Y

MNI BRIEF: China Jan LPR Holds Steady

MNI BRIEF: Federal Reserve Withdraws From Climate Consortium

MNI China Daily Summary: Friday, January 17

JAPAN DATA: Japan November Machine Orders +3.4% M/M

MNI JAPAN NOV CORE MACHINE ORDERS +3.4% M/M; OCT +2.1%

MNI: US TSY TICS NET FLOWS IN NOV +$159.9B

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

OUTLOOK: Price Signal Summary - Bull Cycle In Oil Futures Intact

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • On the commodity front, recent gains in Gold appear corrective - for now. A bear threat remains present. 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 stronger climb would instead signal scope for gains towards resistance at $2726.2, the Dec 12 high.
  • In the oil space, the trend structure in WTI futures remains bullish and the contract traded to a fresh cycle high again, yesterday. A stronger reversal to the upside has exposed key short-term resistance at $76.41, the Oct 8 high. On the downside, a reversal lower would expose support at the 20-day EMA, at $71.32. This average is seen as a key short-term support.
144 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.
  • On the commodity front, recent gains in Gold appear corrective - for now. A bear threat remains present. 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 stronger climb would instead signal scope for gains towards resistance at $2726.2, the Dec 12 high.
  • In the oil space, the trend structure in WTI futures remains bullish and the contract traded to a fresh cycle high again, yesterday. A stronger reversal to the upside has exposed key short-term resistance at $76.41, the Oct 8 high. On the downside, a reversal lower would expose support at the 20-day EMA, at $71.32. This average is seen as a key short-term support.