OIL: EAST CANADA TRACKER: Oil Exports Fall to Lowest Since April - bbg

• RES 4: 1.3416 High Oct 21    
• RES 3: 1.3368 50.0% retracement of the Sep 17 - Nov 4 bear leg  
• RES 2: 1.3284 38.2% retracement of the Sep 17 - Nov 4 bear leg
• RES 1: 1.3275 High Dec 01
• PRICE: 1.3232 @ 16:42 GMT Dec 1
• SUP 1: 1.3125 Low Nov 26  
• SUP 2: 1.3038/10 Low Nov 20 / Low Nov 4 & 5 and the bear trigger
• SUP 3: 1.2971 1.382 proj of the Sep 17 - 25 - Oct 1 price swing
• SUP 4: 1.2945 50.0% retracement of the Jan 13 - Jul 1 bull leg         

The trend theme in GBPUSD is bearish and a recovery in November appears corrective - for now. Price has pierced the 50-day EMA, currently at 1.3259. A clear break of the average would highlight a stronger bull theme. Moving average studies are in a bear-mode condition, highlighting a dominant downtrend. 1.3010, the Nov 4 / 5 low, is the trigger for a resumption of the bear leg. Note that last Thursday’s pattern is a doji - a bear reversal signal. 

Merck's $8B 8pt debt issuance lion's share of today's $17.75B total corporate issuance on the day:

• Date $MM Issuer (Priced *, Launch #)
• 12/01 $8B #Merck** $500M +3Y +57, $750M +3Y SOFR+35, $1B +5Y +50, $1B 7Y +60, $1.5B 10Y +70, $750M +20Y +80, $1.5B 30Y +85, $1B 40Y +100
• 12/01 $2B #ANZ $750M 3Y +37, $750M 3Y SOFR+59, $500M 5Y SOFR+68
• 12/01 $1.3B Post Holdings 10.25NC5.25
• 12/01 $1.25B #GE Healthcare $600M 3Y +60, $650M 10Y +95
• 12/01 $1.2B #Western Midstream $600M +5Y +113, $600M 10Y +148
• 12/01 $1.05B #National Rural Utilities $650M 2Y +45, $400M 5Y +65
• 12/01 $1B #S&P Global $600M +5Y +58, $400M 10Y +75
• 12/01 $1B Hilton Domestic 8.25NC3 5.5%a
• 12/01 $950M #Burlington Northern SF 30Y +85

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