LNG: JERA and Woodside Agree Fleixble Winter Only LNG Supply Deal

We've published our latest Europe Pi positioning update - Download Full Document Here

• Long structural positioning has shown some signs of fading over the course of May, though there still aren't any outright shorts across European bond futures contracts, with multiple "longs".
• The quarterly Gilt roll has begun, with the contract in "very long" territory (first notice is May 29 and there is a holiday Monday so rolls have started on the early side;  for Eurex it's June 6).

SFIZ5 95.50/96.00/96.50c fly vs 97.00/96.50ps 1x2, sold the fly at -15 in 18.5k.

• RES 4: 6080.75 High Feb 26    
• RES 3: 6057.00 High Mar 3  
• RES 2: 6000.00 Round number resistance      
• RES 1: 5993.50 High May 20                                     
• PRICE: 5912.25 @ 15:35 BST May 21 
• SUP 1: 5837.25/5703.54 High Mar 25 / 50-day EMA                        
• SUP 2: 5455.50 Low Apr 30 
• SUP 3: 5355.25 Low Apr 24
• SUP 4: 5127.25 Low Apr 21 and a key support 

A bullish trend condition in S&P E-Minis remains intact and the latest pullback is considered corrective. An important resistance at 5837.25, the Mar 25 high and a bull trigger, has recently been cleared. This has strengthened the current bullish theme, and paves the way for a continuation near-term. Sights are on the 6000.00 handle next. Initial firm support to watch lies at 5703.54, the 50-day EMA.