LNG: Japan LNG Stocks Fall 8.55% in Week to June 15

• MNI: EUROZONE APR FINAL HICP +0.6% M/M, +2.2% Y/Y
• EUROZONE APR FINAL CORE HICP +1% M/M, +2.7% Y/Y

A downtrend in WTI futures remains intact and recent gains are considered corrective. Key resistance to watch is $62.93, the 50-day EMA. It has recently been pierced, a clear break of it would highlight a stronger reversal. This would open $65.82, the Apr 4 high. For bears a reversal lower would refocus attention on $54.33, the Apr 9 low and bear trigger. Clearance of this support would confirm a resumption of the downtrend. A corrective cycle in Gold remains in play and the metal traded lower last week. A key support at $3202.0, the May 1, low has been breached. The break of this level signals scope for a deeper retracement, towards $3085.0, 76.4% of the Apr 7 - Apr 22 upleg. Note that the 50-day EMA at $3169.4, has also been breached, strengthening a bearish threat. Initial resistance is $3259.5, the 20-day EMA.

• WTI Crude down $0.44 or -0.7% at $62.04
• Natural Gas down $0.08 or -2.43% at $3.253
• Gold spot up $41.01 or +1.28% at $3244.62
• Copper up $1.65 or +0.36% at $461.05
• Silver up $0.3 or +0.92% at $32.6029
• Platinum up $6.8 or +0.69% at $998.33

A bullish theme in Eurostoxx 50 futures remains intact and price is trading at its recent highs. The contract is extending the recent breach of 5263.01, 76.4% of the Mar 3 - Apr 7 bear leg. The continuation higher signals scope for a climb towards 5516.00, the Mar 3 high and the key bull trigger. Initial firm support to watch lies at 5181.06, the 50-day EMA. Clearance of this level would signal a possible reversal. A bullish trend condition in S&P E-Minis remains intact and last week’s appreciation reinforces current conditions. The contract has cleared an important resistance at 5837.25, the Mar 25 high and a bull trigger. This strengthens the bullish theme, paving the way for a continuation near-term. Sights are on the 6000.00 handle next. Initial firm support to watch lies at 5681.27, the 50-day EMA.

• Japan's NIKKEI closed lower by 255.09 pts or -0.68% at 37498.63 and the TOPIX ended 2.06 pts lower or -0.08% at 2738.39.
• Elsewhere, in China the SHANGHAI closed higher by 0.121 pts or +0% at 3367.583 and the HANG SENG ended 12.33 pts lower or -0.05% at 23332.72.
• Across Europe, Germany's DAX trades lower by 68.04 pts or -0.29% at 23706.66, FTSE 100 lower by 50.3 pts or -0.58% at 8634.86, CAC 40 down 53.2 pts or -0.67% at 7835.14 and Euro Stoxx 50 down 36.12 pts or -0.67% at 5392.3.
• Dow Jones mini down 369 pts or -0.86% at 42367, S&P 500 mini down 78 pts or -1.31% at 5897.5, NASDAQ mini down 369.75 pts or -1.72% at 21135.