MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI BRIEF: Japan Q3 Capex Up Q/Q; GDP Revised Lower

MNI: Canada Apr-Sept Budget Deficit Widens On Spending

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI: AUSTRALIA Q3 BIZ INDICATORS INVENTORIES -0.9%

MNI: AUSTRALIA OCT BUILDING APPROVALS +4.2% M/M, +6.1% Y/Y

MNI: AUSTRALIA NOV DWELLING APPROVALS +4.2% M/M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - Gold Trades Through The 50-Day EMA

OUTLOOK
  • On the commodity front, Gold remains in a bearish cycle and is trading closer to its recent lows. The yellow metal has cleared support at $1976.2, the 50-day EMA and $1969.3, the Apr 19 low. A clear break of this support zone highlights a stronger bearish threat and opens $1934.3, the Mar 22 low. Initial firm resistance is at $2022.6, the May 12 high.
  • In the oil space, WTI futures traded higher Wednesday. However, a short-term bearish threat remains present and initial resistance at $73.93, the Apr 28 low, is intact. A resumption of weakness and a break of $69.41, the May 15 low, would strengthen near-term bearish conditions. The recent print below $64.58, the Mar 20 low and a key support, is a medium-term bearish development. A clear break of it would resume the broader downtrend.
Metals Technical AnalysisMetals bulletEM BulletHomepagemarkets-real-timeCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets
Metals Technical AnalysisMetals bulletEM BulletHomepagemarkets-real-timeCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.