FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

WTI Futures and Gold Steady After Firm Reversal Lower

COMMODITIES

The reversal in WTI futures this week threatens the recent bullish theme. The contract has traded below the 50-day EMA and attention is on the 20-day EMA at $86.25. A continuation lower would open $89.94 and $82.89 - the 50.0% and 61.8% retracement points of the Sep 26 - Oct 10 rally. On the upside, key resistance is at $93.64, Oct 10 high where a break is required to reinstate a bullish theme. Gold maintains a softer tone. The recent recovery stalled at $1729.5, the Oct 4 high. A continuation lower would expose the key support and bear trigger at $1615.0, the Sep 28 low. On the upside, a break of $1729.5 is required to reinstate a bullish theme.


  • WTI Crude up $0.32 or +0.37% at $87.74
  • Natural Gas up $0.12 or +1.93% at $6.558
  • Gold spot down $0.89 or -0.05% at $1671.35
  • Copper down $0.5 or -0.15% at $341.8
  • Silver down $0 or 0% at $19.004
  • Platinum down $4.69 or -0.53% at $881.76
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.