OUTLOOK: Price Signal Summary - WTI Resistance Remains Intact For Now
Sep-25 10:22
- On the commodity front, the trend condition in Gold is unchanged and a bull cycle remains in play. A fresh all-time high once again, on Tuesday, confirms a resumption of the primary uptrend and an extension of the sequence of higher highs and higher lows. The next objective is the $3800.0 handle. Initial firm support lies at $3622.2, the 20-day EMA.
- In the oil space, despite this week’s gains in WTI, the trend condition remains bearish and short-term gains are considered corrective. The pullback from the Sep 2 high highlights a possible reversal and the end of a corrective phase between Aug 13 - Sep 2. Initial resistance to watch is $65.43, the Sep 2 high. Key short-term resistance has been defined at $68.43, the Jul 30 high. A stronger resumption of weakness would open $57.50, the May 30 low.
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LOOK AHEAD: Tuesday Data Calendar:Durables/Cap Goods, Regional Fed, 2Y Note Sale
Aug-26 10:20
- US Data/Speaker Calendar (prior, estimate)
- 08/26 0830 Richmond Fed Barkin expected to repeat speech on economy from Aug 12, will take audience Q&A).
- 08/26 0830 Philadelphia Fed Non-Mfg Activity (-10.3, --)
- 08/26 0830 Durable Goods Orders (-9.4%, -3.8%), ex-trans (0.2, 0.2)
- 08/26 0830 Cap Goods Orders Nondef Ex Air (-0.8, 0.2%), Ship (0.3%, 0.2%)
- 08/26 0900 FHFA House Price Index MoM (-0.2%, -0.1%)
- 08/26 0900 S&P CoreLogic CS 20-City MoM SA (-0.34%, -0.20%), YoY (2.79%, 2.09%)
- 08/26 1000 Richmond Fed Manufact. Index (-20, 11), Business Conditions (-8, --)
- 08/26 1000 Conf. Board Consumer Confidence (97.2, 96.5)
- 08/26 1030 Dallas Fed Services Activity (2.0, --)
- 08/26 1130 US Tsy $85B 6W bill auction
- 08/26 1300 US Tsy $69B 2Y Note auction (91882CNV9)
- Source: Bloomberg Finance L.P. / MNI
OUTLOOK: Price Signal Summary - EUROSTOXX50 Futures Support Remains Intact
Aug-26 10:15
- In the equity space, the dominant uptrend in S&P E-Minis remains intact and last Friday’s rally reinforces current conditions. Moving average studies are in a bull-mode position, highlighting a clear uptrend and positive market sentiment. Attention is on 6508.75, the Aug 15 high and the bull trigger. Clearance of this level would confirm a resumption of the uptrend and open 6523.63, a 1.764 projection of the May 23 - Jun 11 - 23 price swing. Support to watch lies at 6304.76, the 50-day EMA.
- The trend set-up in EUROSTOXX 50 futures is bullish and the pullback from last Friday’s high is for now, considered corrective. The recent print above the May and July highs strengthens a bull theme and signals scope for a climb towards 5575.00, the Mar 3 high (cont) and key resistance. Moving average studies are in a bull-mode position, highlighting an uptrend. Support to watch lies at 5373.59, the 50-day EMA.
BTP: Block Trade
Aug-26 10:14
BTP Block trade, suggest buyer:
- IKU5 ~1.6k at 120.22.
