From Marc to Market:
Overview: Animal spirits are retreating today. Asia Pacific and European equities are lower, and US futures are narrowly mixed. US 2- and 10-year yields are edging higher, while European benchmark 10-year yields are mostly softer. Italy and the UK are notable exceptions. Gilt yields are firming ahead of the budget statement. The dollar is trading higher against the G10 currencies. It still appears to be in a consolidative mode, but we continue to see risk of a more genuine correction after its recent downside momentum stalled. Emerging market currencies are also trading with a downside bias today.
Like the foreign currencies, gold’s upside momentum has faded, and near $1763 in Europe, the yellow metal is at a three-day low. Support is seen near $1750. December WTI is little changed near the trough carved in recent sessions near $84 a barrel. US natgas is higher for the fourth consecutive session, its longest advance in two months. It is up about 8.4% this week, recouping last week’s 8.1% drop. Europe’s natgas benchmark is up 3% today and is up a little more than 13% this week. Iron ore’s four-day rally stalled, and it slipped marginally today. December copper is extending its slump into the fourth consecutive session. It is off about 4.8% this week after rallying almost 14% over the past two weeks. December wheat is extending yesterday’s pullback. It fell 1.3% yesterday and is down 2.3% today....
....MUCH MORE
And from TradingView:
If interested see also November 11's:
The Most Important Chart In Commodities
