Free Trial
US DATA

New Home Sales Continue Broad Stabilisation

STIR

SOFR Put Volumes Pick Up

CROSS ASSET

MONTH END (updated)

CORN TECHS

(H3) Remains Below Its Recent Highs

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

Recent WTI Futures Gains Corrective, Trend Conditions Still Bearish

COMMODITIES

Trend conditions in WTI futures remain bearish and recent gains are considered corrective. Monday’s move lower resulted in a break of the bear trigger at $74.96, Sep 28 low. This confirms a resumption of the downtrend and has opened $73.38, a Fibonacci projection and the $70.00 psychological handle. Initial resistance is at $79.90, last Friday’s high. Short-term trend conditions in Gold remain bullish. The yellow metal recently breached $1729.5, the Oct 4 high. This has strengthened a bullish theme and signals scope for $1800.0 and a key resistance at $1807.9, the Aug 10 high. Moving average studies are in a bull mode position. The bull trigger is at $1786.5, the Nov 15 high. Initial firm support is seen at $1702.3, the Nov 9 low. First support to watch is at the 20-day EMA that intersects at $1732.2.


Keep reading...Show less
177 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Trend conditions in WTI futures remain bearish and recent gains are considered corrective. Monday’s move lower resulted in a break of the bear trigger at $74.96, Sep 28 low. This confirms a resumption of the downtrend and has opened $73.38, a Fibonacci projection and the $70.00 psychological handle. Initial resistance is at $79.90, last Friday’s high. Short-term trend conditions in Gold remain bullish. The yellow metal recently breached $1729.5, the Oct 4 high. This has strengthened a bullish theme and signals scope for $1800.0 and a key resistance at $1807.9, the Aug 10 high. Moving average studies are in a bull mode position. The bull trigger is at $1786.5, the Nov 15 high. Initial firm support is seen at $1702.3, the Nov 9 low. First support to watch is at the 20-day EMA that intersects at $1732.2.


Keep reading...Show less