POWER: Spain Awards €148.5mln for Innovative Renewable Projects
The Spanish energy ministry has awarded 148.5mln for 199 innovative renewable projects under the REN...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GILT AUCTION RESULTS: 1.875% Sep-49 Linker
| 1.875% Sep-49 Linker | Previous | |
| Amount | GBP0.90bln | GBP5.00bln |
| Avg yield | 2.360% | 2.023% |
| Bid-to-cover | 3.39x | |
| Avg price | 91.090 | 97.142 |
| Pre-auction mid | 90.962 | |
| Previous date | 11-Mar-25 |
COMMODITIES: WTI Futures Maintain Softer Tone, But Above 50-Day EMA Support
WTI futures maintain a softer tone following the reversal from the Jun 23 high, and recent gains appear corrective. Support to watch is the 50-day EMA, at $64.96. It has been pierced, a clear break of it would signal scope for a deeper retracement. This would expose $58.87, the May 30 low. Initial resistance to watch is $71.20, the 50.0% retracement of the Jun 23 - 24 high-low range. Key resistance is at $78.40, the Jun 23 high. A recent move lower in Gold resulted in a breach of the 50-day EMA, and a trendline drawn from the Dec 30 ‘24 low and connected to the Feb 28 low. A clear break of both trend tools would signal scope for a deeper correction, and open $3245.5, May 29 low. Note that the latest recovery highlights a possible false trendline break. A resumption of gains would refocus attention on $3451.3, the Jun 16 high. The bear trigger lies at $3248.7, the Jun 30 low.
- WTI Crude down $0.49 or -0.72% at $67.46
- Natural Gas down $0.03 or -0.88% at $3.382
- Gold spot down $12.07 or -0.36% at $3324.58
- Copper up $1.2 or +0.24% at $503.85
- Silver down $0.01 or -0.03% at $36.761
- Platinum down $2.84 or -0.21% at $1372.65
EQUITIES: Eurostoxx 50 Futures Remain Close to Cycle Highs
Recent gains in Eurostoxx 50 futures from the Jun 23 low, still appears to be a potential reversal and the contract is holding on to its most recent gains. Price has pierced both the 20- and 50-day EMAs. A clear break of both averages would strengthen a reversal theme. This would open 5486.00, May 20 high and bull trigger. On the downside, a break of 5194.00, Jun 23 low, reinstates a bearish theme. The trend condition in S&P E-Minis is unchanged, the outlook remains bullish. Resistance at 6128.75, the Jun 11 high, has recently been breached. The break confirmed a resumption of the uptrend that started Apr 7. This has been followed by a breach of key resistance and a bull trigger at 6277.50, the Feb 21 high. Sights are on 6356.12, a Fibonacci projection. Key support is at the 50-day EMA, at 6011.49.
- Japan's NIKKEI closed higher by 101.13 pts or +0.26% at 39688.81 and the TOPIX ended 4.82 pts higher or +0.17% at 2816.54.
- Elsewhere, in China the SHANGHAI closed higher by 24.348 pts or +0.7% at 3497.475 and the HANG SENG ended 260.24 pts higher or +1.09% at 24148.07.
- Across Europe, Germany's DAX trades higher by 18.14 pts or +0.08% at 24091.32, FTSE 100 higher by 7.3 pts or +0.08% at 8814.06, CAC 40 down 16.78 pts or -0.22% at 7706.69 and Euro Stoxx 50 down 4.98 pts or -0.09% at 5336.56.
- Dow Jones mini down 51 pts or -0.11% at 44626, S&P 500 mini up 5.75 pts or +0.09% at 6281.75, NASDAQ mini up 57.75 pts or +0.25% at 22942.5.
