STIR: BoE-dated OIS Pricing Over 40bp Of Easing For '26, DMP Due Tomorrow
The uptick in core global FI markets provides a modest dovish impetus for GBP STIRs, with ongoing fo...
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FRANCE: Socialists' Faure: Will Support 2026 Social Security Bill
"FRENCH SOCIALIST PARTY'S FAURE: WE WILL VOTE FOR FRENCH BUDGET'S SOCIAL SECURITY PROGRAMME" Reuters News
Comes ahead of tomorrow's vote on the 2026 Social Security bill. A reminder that on Friday, the National Assembly voted in favour of the Revenue section of the bill.
WTI TECHS: (F6) Gains Considered Corrective
- RES 4: $71.38 - High Jun 23 and a key medium-term resistance
- RES 3: $67.16 - High Jul 30
- RES 2: $65.33 - High Sep 26 and key resistance
- RES 1: $61.84 - High Oct 24
- PRICE: $60.23 @ 07:22 GMT Dec 8
- SUP 1: $55.99 - Low Oct 20 and bear trigger
- SUP 2: $55.33 - Low May 1
- SUP 3: $54.72 - Low Apr 9 and a key support
- SUP 4: $53.53 - 1.764 proj of the Jul 30 - Aug 13 - Sep 26 price swing
Short-term gains in WTI futures appear corrective - for now. Note that moving average studies are in a bear-mode position, highlighting a dominant downtrend. A resumption of the bear leg would open the key support and the bear trigger at $55.99, the Oct 20 low. Clearance of this level would resume the downtrend. Key short-term resistance to watch is $61.84, the Oct 24 high. A clear break of this hurdle would signal scope for a stronger correction.
GOLD TECHS: Bullish Structure
- RES 4: $4404.9 - 3.500 proj of the May 15 - Jun 16 - 30 price swing
- RES 3: $4400.0 - Round number resistance
- RES 2: $4381.5 - High Oct 20 and bull trigger
- RES 1: $4264.7 - 76.4% retracement of the Oct 20 - 28 correction
- PRICE: $4216.2 @ 07:28 GMT Dec 8
- SUP 1: $4145.3/4031.1 - 20- and 50-day EMA values
- SUP 2: $3886.6 - Low Oct 28 and a reversal trigger
- SUP 3: $3800.00 Round number support
- SUP 4: $3760.9 - Low Sep 29
The trend needle in Gold continues to point north. The bear phase between Oct 20 and 28 appears to have been a correction and note that the recovery since Oct 28 signals the end of that corrective cycle. Key support to watch lies at the 50-day EMA, at $4031.1. Clearance of this EMA would signal scope for a deeper retracement. Sights are on key resistance and the bull trigger at $4381.5, the Oct 20 high.
