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MNI BOE WATCH: BOE Hikes By 50, "Watchful" On Inflation

OIL

Crude Extends Decline on Stronger USD

BRAZIL

TD Still See Window Of Opportunity For Rate Cuts Opening In Q3

US TSY FUTURES

BLOCK, 5Y Sale

CORN TECHS

(H3) Challenging Resistance

USD

Extending broader gains

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Price Signal Summary - Gold Rally Extends, Exposing Key Short-Term Resistance

OUTLOOK
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  • On the commodity front, Gold found support Tuesday and rallied sharply higher. This confirms an extension of the rally from $1616.7, the Nov 3 low. The yellow metal is trading above both the 20- and 50-day EMAs and attention turns to resistance at $1729.5, the Oct 4 high and a bull trigger. A break would strengthen bullish conditions. On the downside, support is at $1662.8, the 20-day EMA.
In the Oil space, the latest pullback in WTI futures is considered corrective - for now. The outlook is bullish and the contract has recently pierced resistance at $92.34, Oct 12 high. A clear break of this hurdle would strengthen a bullish theme and open $95.55, the Aug 30 high. Moving average studies are beginning to display a bull mode set-up, reinforcing the current positive outlook. Initial support to watch, lies at $87.60, the Nov 3 low.
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  • On the commodity front, Gold found support Tuesday and rallied sharply higher. This confirms an extension of the rally from $1616.7, the Nov 3 low. The yellow metal is trading above both the 20- and 50-day EMAs and attention turns to resistance at $1729.5, the Oct 4 high and a bull trigger. A break would strengthen bullish conditions. On the downside, support is at $1662.8, the 20-day EMA.
In the Oil space, the latest pullback in WTI futures is considered corrective - for now. The outlook is bullish and the contract has recently pierced resistance at $92.34, Oct 12 high. A clear break of this hurdle would strengthen a bullish theme and open $95.55, the Aug 30 high. Moving average studies are beginning to display a bull mode set-up, reinforcing the current positive outlook. Initial support to watch, lies at $87.60, the Nov 3 low.