MNI China Daily Summary: Wednesday, December 11

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MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Price Signal Summary - WTI Tests Resistance At The 50-Day EMA

OUTLOOK
  • On the commodity front, Gold has recovered from Wednesday’s low. However, this week’s print below the 50-day EMA and the break of support at $2013.4, the Jan 11 low, has strengthened a bearish threat and a resumption of weakness would open a key level at $1973.2, the Dec 13 low. For bulls, clearance of 2062.3, the Jan 12 high, is required to signal a reversal. This would expose $2088.5, the Dec 28 high.
  • In the oil space, trend signals in WTI futures remain bearish and short-term gains are considered corrective. Resistance to watch is $74.28, the 50-day EMA. It has been pierced, a clear break would strengthen a bullish theme and expose $76.18, the Dec 26 high. Moving average studies remain in a bear-mode position and continue to highlight a downtrend. The trigger for a resumption of the downtrend is $67.98, Dec 13 low.
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