European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Wall Street Analysts Weigh in on Latest NFP Data 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
US oil chart on Trading View used for analysis
- Oil slips lower after Saudi promised to supply the Iranian shortfall.
- WTI fell below 200 DMA for the first time in more than a year as a result.
- Further American Petroleum Institute said on Tuesday U.S. crude stocks had risen by 9.9 million barrels - more than forecast.
- Focus now on the U.S. government's supply report (EIA data) which is due at 1430 GMT.
- Technical studies are bearish, momentum with the bears. Scope for further weakness.
- Next major bear target lies at 63.59 (38.2% Fib). Retrace above 200-DMA negates near-term bearishness.
Support levels - 64.45 (Aug 16 low), 63.59 (38.2% Fib)
Resistance levels - 67.44 (200-DMA), 68.10 (5-DMA)
Recommendation: Good to stay short on upticks, SL: 67.50, TP: 66/ 65.35/ 64.50
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
