Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Price Signal Summary - Oil Futures Still Appear Bullish

  • On the commodity front, Gold remains in a downtrend and recent gains are considered corrective. A bearish theme follows the reversal from $1729.5, the Oct 4 high. Note too that moving average studies are in a bear mode position and this highlights a downtrend. A resumption of weakness would refocus attention on key support and the bear trigger at $1615.0, the Sep 28 low. Key resistance is at $1684.4, the 50-day EMA.
  • In the Oil space, the WTI futures outlook remains positive. The contract has defined a key short-term support at $81.30, Oct 18 low. Resistance at $88.66, the Oct 12 high, has been cleared and this opens $92.34, the Oct 10 high and a key resistance. On the downside, a move through support at $81.30 is required to undermine the bull theme. Initial support is at $85.30, Monday’s low.

To read the full story

Why Subscribe to


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.