Sinopec's 320kb/d Shanghai Petrochemical refinery has temporarily shut a 70kb/d crude distillation u...
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Citi note that “EGB spreads shrugged off the hawkish ECB cut and neutral risk-asset behaviour last week to extend their tightening”.
An impulsive bull wave in Silver remains in play and last week’s strong gains reinforce this condition. The metal has recently cleared a number of important resistance points. Thursday’s rally resulted in a move above $34.903, the Oct 23 ‘24 high and a key bull trigger. The clear break of it marks an important medium-term bullish development. Sights are on $36.712 next, a Fibonacci projection. Initial support to watch lies at $33.967, the Jun 3 low.