MNI: US MBA: MARKET COMPOSITE -1.4% SA THRU AUG 15 WK
Aug-20 11:00
MNI: US MBA: MARKET COMPOSITE -1.4% SA THRU AUG 15 WK
OUTLOOK: Price Signal Summary - Bear Cycle In Oil Futures Remains Intact
Aug-20 10:55
On the commodity front, despite the latest pullback, a bull cycle in Gold remains intact. Moving average studies are in a bull-mode position. The sideways trend that has been in place since the Apr peak appears to be a corrective phase - a pause in the uptrend. A resumption of gains would open $3439.0, the Aug 23 high. Key resistance and the bull trigger is at $3500.1, the Apr 22 low. On the downside, first support to watch lies at $3268.2, the Jul 30 low.
In the oil space, WTI futures remain in a clear bear cycle and the contract continues to trade closer to its recent lows. A key support at $61.99, the Jun 30 low, has been breached, strengthening a bearish theme. A continuation lower would open $57.71, the May 30 low. Key short-term resistance has been defined at $69.36, the Jul 30 high. Clearance of this level would cancel a bear theme. Initial resistance to watch is $63.91, the 50-day EMA.
US TSY OPTIONS: BLOCK: Sep'25 10Y Put
Aug-20 10:54
5,000 TYU5 111 puts, 2 vs. 111-22.5/0.08% at 0632:11ET; Sep options expire Friday, open interest 143,902.