LNG: QatarEnergy LNG Suppy Deal to India's GSPC

WTI futures have pulled back from their recent gains. The contract has recently breached $65.43, the Sep 2 high and this has potentially improved the S/T condition for bulls. However, the next key resistance is at $68.43, the Jul 30 high, where a break is required to signal scope for a stronger recovery. For bears, a reversal lower would refocus attention on key support at $60.85, the Aug 13 low. A break of this level would reinstate the downtrend. The trend condition in Gold is unchanged and a bull cycle remains in play. The yellow metal has started the week on a bullish note, trading to a fresh cycle high, confirming a resumption of the primary uptrend. Note that MA studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on $3909.4, a Fibonacci projection. On the downside, support to watch lies at $3646.3, the 20-day EMA. A pullback would be considered corrective.

Eurostoxx 50 futures maintain a bullish theme. Yesterday’s gains resulted in a breach of key resistance and the bull trigger at 5525.00, the Aug 22 high. The break confirms a resumption of the uptrend and paves the way for a climb towards 5564.82, a Fibonacci projection. Moving average studies remain in a bull-mode position, highlighting a dominant uptrend. Initial firm support lies at 5442.85, the 20-day EMA. A bull cycle in S&P E-Minis remains intact. Key short-term resistance has been defined at 6756.75, the Sep 22 high where a break would resume the primary uptrend. This would open 6787.63, a Fibonacci projection. On the downside, the contract has recently pierced initial support at the 20-day EMA, currently at 6647.54. A clear breach of this average would signal scope for a deeper retracement, potentially towards the 50-day EMA, at 6526.11.

• Japan's NIKKEI closed lower by 111.12 pts or -0.25% at 44932.63 and the TOPIX ended 6.03 pts higher or +0.19% at 3137.6.
• Elsewhere, in China the SHANGHAI closed higher by 20.245 pts or +0.52% at 3882.777 and the HANG SENG ended 232.68 pts higher or +0.87% at 26855.56.
• Across Europe, Germany's DAX trades lower by 9.43 pts or -0.04% at 23734.38, FTSE 100 lower by 22.57 pts or -0.24% at 9276.91, CAC 40 down 24.38 pts or -0.31% at 7855.23 and Euro Stoxx 50 down 7.45 pts or -0.14% at 5499.07.
• Dow Jones mini down 87 pts or -0.19% at 46527, S&P 500 mini down 9.75 pts or -0.15% at 6704, NASDAQ mini down 32.75 pts or -0.13% at 24805.5.

• MNI: ITALY SEP FLASH HICP 1.8% Y/Y (VS 1.7% FCAST, 1.6% AUG)