EU REAL ESTATE: Digital Realty Trust: Dual Tranche

RXX5 130c, bought for 16 up to 18.5 in close to 10k.

A bearish theme in WTI futures remains intact. Friday’s move down confirmed a resumption of the bear leg - support at $60.40, the Oct 2 low, has been breached. This highlights an extension of the bearish price sequence of lower lows and lower highs. The move down opens $57.50 next, the May 30 low. On the upside, initial key resistance is at $66.42, the Sep 29 high. Clearance of this level would highlight a reversal. A bull cycle in Gold remains intact and today’s fresh cycle marks a bullish start to this week’s session. The move higher maintains the price sequence of higher highs and higher lows. Sights are on the $4100.00 handle, and $4113.5, a Fibonacci projection point. Note that the trend is in overbought territory. A move down would be considered corrective and would allow the overbought set-up to unwind. Support to watch is $3836.5, 20-day EMA.

• WTI Crude up $1 or +1.7% at $59.86
• Natural Gas up $0 or +0.06% at $3.107
• Gold spot up $60.84 or +1.51% at $4078.26
• Copper up $11.55 or +2.36% at $500.6
• Silver up $1.34 or +2.67% at $51.5025
• Platinum up $64.15 or +4.02% at $1662.5

The trend condition in Eurostoxx 50 futures is unchanged, the direction is up and the latest pullback is - for now - considered corrective. The key support zone to monitor is 5549.76 - 5474.21, the area between the 20- and 50-day EMAs. A clear break of the 50-day average would highlight a stronger reversal. On the upside, the bull trigger has been defined at 5689.00, the Oct 2 high. Clearance of this hurdle would confirm a resumption of the uptrend. A sharp sell-off in S&P E-Minis on Friday is - for now - considered corrective. The contract has found support below the 50-day EMA, currently at 6598.55. Friday’s low of 6940.25 has been defined as a key short-term support. Note that moving average studies remain in a bull-mode position, highlighting a dominant uptrend. The bull trigger is 6812.25, the Sep 9 high. A breach of this hurdle would confirm a resumption of the uptrend.

• In China the SHANGHAI closed lower by 7.526 pts or -0.19% at 3889.502 and the HANG SENG ended 400.84 pts lower or -1.52% at 25889.48.
• Across Europe, Germany's DAX trades higher by 118.67 pts or +0.49% at 24359.52, FTSE 100 higher by 8.79 pts or +0.09% at 9436.29, CAC 40 up 40.01 pts or +0.51% at 7958.01 and Euro Stoxx 50 up 33.77 pts or +0.61% at 5565.09.
• Dow Jones mini up 441 pts or +0.96% at 46147, S&P 500 mini up 89.75 pts or +1.36% at 6684.75, NASDAQ mini up 464 pts or +1.9% at 24860.75.