THAILAND: PM Anutin Vows Retaliation, Halts Cambodia Peace Process
Prime Minister Anutin Charnvirakul dug in amid the latest escalation in border tensions with Cambodi...
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EQUITY OPTIONS: Estoxx Synth Option Trade
SX5E (17th Oct) 5600, sold the put at 9 in 5k (100% del).
EGB OPTIONS: Large Bund Call Buyer
RXX5 130c, bought for 16 up to 18.5 in close to 10k.
COMMODITIES: Friday's Move Lower in WTI Futures Confirms Resumption of Bear Leg
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
