OUTLOOK: Price Signal Summary - Gold Continues To Appreciate
Mar-13 11:39
- On the commodity front, Gold is trading higher this week. The trend condition is unchanged, it remains bullish. A stronger resumption of gains would refocus attention on $2962.2, a 2.00 projection of the Nov 14 - Dec 12 - 19 price swing. This would also open the $3000.0 handle. On the downside, a move lower would instead suggest scope for a deeper correction and expose support around the 50-day EMA, at $2834.0. The 50-day average represents a key support.
- In the oil space, a bearish condition in WTI futures remains intact and the contract is trading closer to its recent lows. The latest sell-off has resulted in a breach of $70.20, the Feb 6 low. This confirmed a resumption of the downtrend that started Jan 15 and has paved the way for an extension towards $63.61 next, the Oct 10 ‘24 low. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. Key pivot resistance is $70.10, the 50-day EMA.
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EURIBOR OPTIONS: Latest Condors
Feb-11 11:33
- ERK5 97.68/62/56/43 broken p condor bought for half in 3k.
- ERU5 97.87/98.00/98.12/98.25c condor, sold at 3.5 in 3k.
BUNDS: Bund outright call
Feb-11 11:30
RXH5 132.50c, traded for 77 in 7.5k (66del).
EUR: Seeing wider demand in te past few minutes
Feb-11 11:20
- The EUR is seeing a wider bid here, at its best level for the day against the CHF, JPY, AUD, NOK, CAD, and the EUR is on the foot in early trade, with the CAD leading losses, down 0.31%.
- It is still worth noting that Yesterday's low at 1.47237 in EURCAD was the lowest level in nearly a Month, since 13th January, so today's gains is barely an unwound of Yesterday's range.
- The high in EURCAD is at 1.48155.
