OUTLOOK: Price Signal Summary - Bull Cycle In Oil Futures Remains In Play
Jul-14 09:52
- On the commodity front, Gold is holding on to its latest gains. The yellow metal has breached resistance at the 50-day EMA. The average intersects at $1945.0 and the break signals scope for a continuation of the current corrective cycle. This opens $1968.00, the Jun 16 high. Key resistance has been defined at $1985.3, the May 24 high where a break would highlight a stronger reversal. Key support and the bear is at $1893.1, the Jun 29 low. Initial support is at $1934.4, the 20-day EMA.
- In the oil space, the current bull cycle in WTI futures remains intact. The contract has recently breached $72.72, the Jun 21 high and Wednesday’s move higher resulted in a break of key resistance at $75.70, the Jun 5 high. This strengthens current bullish conditions and paves the way for a climb towards $78.03, the 76.4% retracement of the Apr 12 - May 4 bear leg. Key short-term support has been defined at $66.96, the Jun 12 low. Initial support is at $72.31, the 20-day EMA.
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OUTLOOK: Price Signal Summary - EUROSTOXX 50 Futures Clears Resistance
Jun-14 09:51
- In the equity space, S&P E-Minis traded higher Tuesday and the contract is firmer today. The move confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows, marking an extension of the bull cycle that started in October 2022. The focus is on a climb towards 4452.42, 1.764 projection of the May 4 - 19 - 24 price swing. Firm support is at 4292.26, the 20-day EMA. Initial support is at 4348.75, the Jun 5 high.
- EUROSTOXX 50 futures traded higher Tuesday and the contract is climbing today. Resistance at 4362.00, the May 29 high has been cleared. This is a bullish development and signals scope for an extension higher towards key resistance at 4409.50, the Nov 18 2021 high on the continuation chart. Clearance of this hurdle would represent an important bullish development. Initial support to watch is at 4281.50, the 50-day EMA.
SONIA: Downside structure
Jun-14 09:48
SFIN3 94.35/94.20ps vs SFIN3 94.80/95.05cs, bought the ps for 1 in 3k
GERMAN AUCTION RESULTS: 2.30% Feb-33 Bund
Jun-14 09:35
| 2.30% Feb-33 Bund | Previous | |
| ISIN | DE000BU2Z007 | |
| Allotted | E3.339bln | E3.31bln |
| Avg yield | 2.43% | 2.31% |
| Bid-to-offer | 1.62x | 1.88x |
| Bid-to-cover | 1.95x | 2.27x |
| Average Price | 98.89 | 99.92 |
| Low acc. Price | 98.87 | 99.91 |
| Pre-auction mid | 98.835 | 99.888 |
| Previous date | 17-May-23 | |
| Total sold | E4bln | E4bln |
