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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.
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Free AccessMNI US Inflation Insight: Softer Housing Helps Ensure Dec Cut
MNI INTERVIEW2: Poland To Push For EU Defence Fund
Price Signal Summary - WTI Gains Considered Corrective
- On the commodity front, short-term trend conditions in Gold remain bullish and short-term pullbacks are considered corrective. Recent gains resulted in the break of $1729.2, the Oct 4 high. This has strengthened the current bullish theme and opens $1800.0 and a key resistance at $1807.9, Aug 10 high. First support lies at $1730.3, the 20-day EMA.
- In the Oil space, the trend condition in WTI futures remains bearish and the latest bounce is considered corrective. Yesterday’s initial move lower resulted in a break of key support and the bear trigger at $74.96, Sep 28 low. This resumes the broader downtrend and opens $73.38, 1.00 projection of the Aug 30 - Sep 28 - Nov 7 price swing and the $70.00 psychological handle. Initial resistance is at $79.90, Friday’s high.
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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.