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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.
MARKET INSIGHT
- A strong start to 2021 for the E-Mini S&P contract yesterday found resistance at 3773.25. This level is the short-term bull trigger. Support to watch today is at 3651.00, Dec 23 low
- The trend remains bullish. On the cards, is $3819.10, 1.764 proj of the Sep 24 - Oct 12 - Oct 30 swing
- On the commodity front, Gold remains firm above $1900.0. The focus is on $1965.6, Nov 9 high and a key resistance. Both Brent and WTI stalled at their trading to fresh trend highs. In Japanese candle terms, yesterday's price pattern is a shooting star reversal.
- If correct, Brent (H1) support at $49.29, Dec 21/23 low is exposed. Key resistance is $53.33, Jan 4 high.
- In WTI (G1), risk is for weakness to $46.16, Dec 23 low and key support. Resistance is $49.83, Jan 4 high.
- In FX , the USD remains weak. The EURUSD bull trigger for today is at 1.2310, Dec 30 high. Potential is for 1.2380, 2.00 projection of the Nov 4 - 9 rally from the Nov 11 low. USDJPY targets 102.02, Mar 10 low following yesterday's fresh low print. In the EU FI space, Bund (H1) rallied yesterday and targets 178.44 next, Dec 21 high and a key near-term resistance. 135.99, Dec 14 is the next bull trigger in Gilts.
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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