FRANCE AUCTION RESULTS: Strong French auction

• MNI: GERMANY ZEW FEB ECONOMIC EXPECTATIONS 26
• MNI: GERMANY ZEW FEB CURRENT CONDITIONS -88.5

You are invited to listen to a Livestreamed MNI Connect Video Conference with ECB Executive Board Member, Piero Cipollone.

Details below:

• TOPIC OF DISCUSSION: The ECB's balance sheet and its implications for monetary policy
• DATE: Tuesday 18 February
• TIME: 14:00 - 15:00 London time
• This event will be run as a Zoom Webinar and is a public, on-the-record event.

To register please go to: MNI Webcast Registration

WTI futures have pulled back from last week’s high and price has again traded below the 50-day EMA - at $71.62. Attention is on $70.20 (pierced), the Feb 6 low. A clear break of it would undermine a bullish theme and confirm a breach of the 50-day EMA. This would strengthen a bearish threat and open $67.75, the Dec 20 ‘24 low. Key S/T resistance has been defined at $74.06, the Feb 3 high. A move above this level would reinstate a bull theme. A bull cycle in Gold remains in play and the yellow metal continues to hold on to the bulk of its recent gains. Fresh highs once again confirm a resumption of the uptrend and maintain the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on the $2962.2, a Fibonacci projection. The first key support to watch is $2833.2, the 20-day EMA.

• WTI Crude up $1.13 or +1.6% at $71.89
• Natural Gas down $0.15 or -3.89% at $3.581
• Gold spot up $15.61 or +0.54% at $2912.21
• Copper down $6.75 or -1.43% at $464.55
• Silver up $0.16 or +0.49% at $32.4995
• Platinum up $2.86 or +0.29% at $987.92