MNI BRIEF: EC Reviews Estonia Economic Imbalances

MNI China Daily Summary: Wednesday, December 18

MNI BRIEF: China Youth Umemployment Rate Fell In November

MNI CHINA MONEY MARKET INDEX: Easing Expectations Surge

MNI DEC CHINA MONEY MARKET INDEX 36.0 VS NOV 53.5

MNI BRIEF: PBOC Warns Market On Bond Rally - Press

MNI: UK DEC CBI INDUSTRIAL TRENDS TOTAL ORDERS -40

MNI: EUROZONE NOV FINAL HICP -0.3% M/M, +2.2% Y/Y

MNI: EUROZONE OCT CONSTRUCTION OUTPUT +1% M/M, +0.2% Y/Y

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

COMMODITIES: WTI Futures Recover From Monday's Lows

COMMODITIES
EM BulletCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

A bearish threat in WTI futures remains present and recent gains are - for now - considered corrective. A resumption of the bear cycle would open $65.57, the Oct 1 low, and $63.73, the Sep 10 low and key support. For bulls, a stronger reversal to the upside would instead refocus attention on the key short-term resistance at $76.41, the Oct 8 high. Initial firm resistance to watch is unchanged at $71.97, the Nov 7 high. Gold is unchanged and continues to trade below its recent highs. Trend signals are bullish and a move lower is considered corrective. A key short-term resistance at $2721.4, Nov 25 high, has recently been pierced and this represents a positive development. A resumption of gains would expose key resistance at $2790.1, the Oct 31 high. Clearance of this level would resume the primary uptrend. First key support is $2605.3, the Nov 26 low.

  • WTI Crude up $0.51 or +0.73% at $70.59
  • Natural Gas up $0.02 or +0.6% at $3.327
  • Gold spot up $1.2 or +0.05% at $2648
  • Copper down $0.55 or -0.13% at $414.15
  • Silver down $0.13 or -0.42% at $30.4145
  • Platinum down $6.53 or -0.69% at $935.31
188 words

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.

A bearish threat in WTI futures remains present and recent gains are - for now - considered corrective. A resumption of the bear cycle would open $65.57, the Oct 1 low, and $63.73, the Sep 10 low and key support. For bulls, a stronger reversal to the upside would instead refocus attention on the key short-term resistance at $76.41, the Oct 8 high. Initial firm resistance to watch is unchanged at $71.97, the Nov 7 high. Gold is unchanged and continues to trade below its recent highs. Trend signals are bullish and a move lower is considered corrective. A key short-term resistance at $2721.4, Nov 25 high, has recently been pierced and this represents a positive development. A resumption of gains would expose key resistance at $2790.1, the Oct 31 high. Clearance of this level would resume the primary uptrend. First key support is $2605.3, the Nov 26 low.

  • WTI Crude up $0.51 or +0.73% at $70.59
  • Natural Gas up $0.02 or +0.6% at $3.327
  • Gold spot up $1.2 or +0.05% at $2648
  • Copper down $0.55 or -0.13% at $414.15
  • Silver down $0.13 or -0.42% at $30.4145
  • Platinum down $6.53 or -0.69% at $935.31