GREECE T-BILL AUCTION RESULTS: 13-Week GTB

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A bull wave in WTI futures remains intact and the sharp pullback on Mar 23 has proved to be corrective. A key support zone to monitor is the area between $88.25 - $77.61, the 20- and 50-day EMA values. The 20-day average has been pierced, but remains intact for now. A clear break of this support zone is required to signal a possible trend reversal. On the upside, sights are on $104.50, a Fibonacci retracement. Short-term trend signals in Gold are unchanged, they remain bearish and the recovery from the Mar 23 low, is considered corrective. Note that the downtrend is in oversold territory and a stronger corrective bounce would allow this condition to unwind. Initial resistance is at $4655.7, the Feb 6 low. Key near-term resistance is at $4818.6, the 50-day EMA. For bears, a resumption of the bear leg would open $3945.2, a Fibonacci projection.

• WTI Crude up $1.22 or +1.22% at $100.87
• Natural Gas down $0.11 or -3.5% at $2.918
• Gold spot up $45.11 or +1% at $4538.59
• Copper up $2.05 or +0.37% at $551.45
• Silver up $1.15 or +1.65% at $70.9294
• Platinum up $68.17 or +3.65% at $1935.96

The trend condition in EuroStoxx 50 futures remains bearish and recent gains appear to have been corrective. Note that the S/T trend condition is oversold and a stronger recovery would allow this set-up to unwind. Key pivot resistance is seen at 5750.42, the 50-day EMA. A fresh cycle low on Mar 20 and 23  confirmed a resumption of the bear cycle. The break lower signals potential for an extension towards 5277.64 next, a Fibonacci projection. A bear trend in S&P E-Minis remains intact and last week’s sell-off reinforces current conditions. A fresh cycle low confirms a resumption of the downtrend. Note that moving average studies remain in a bear-mode position, highlighting a dominant downtrend. This opens 6316.61 next, a Fibonacci projection. Initial firm resistance is at 6699.10, the 20-day EMA. Resistance at the 50-day EMA is at 6819.71.

• Japan's NIKKEI closed lower by 1487.22 pts or -2.79% at 51885.85 and the TOPIX ended 107.35 pts lower or -2.94% at 3542.34.
• Elsewhere, in China the SHANGHAI closed higher by 9.563 pts or +0.24% at 3923.287 and the HANG SENG ended 201.09 pts lower or -0.81% at 24750.79.
• Across Europe, Germany's DAX trades higher by 33.62 pts or +0.15% at 22333.81, FTSE 100 higher by 75.32 pts or +0.76% at 10042.29, CAC 40 up 28.41 pts or +0.37% at 7730.36 and Euro Stoxx 50 up 21.12 pts or +0.38% at 5526.92.
• Dow Jones mini up 208 pts or +0.46% at 45632, S&P 500 mini up 32 pts or +0.5% at 6444.75, NASDAQ mini up 109.75 pts or +0.47% at 23440.