Bearish conditions in WTI futures were reinforced last week - the contract cleared support at $80.89, the Sep 8 low. This marks a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Gold traded lower Friday, breaking out of its recent range and in the process confirmed the bear flag formation evident on the daily chart. The break confirms a resumption of the downtrend.
- WTI Crude down $0.17 or -0.22% at $78.26
- Natural Gas down $0.13 or -1.87% at $6.7
- Gold spot up $2.96 or +0.18% at $1646.96
- Copper down $1.8 or -0.54% at $332.3
- Silver down $0.13 or -0.67% at $18.7451
- Platinum up $3.87 or +0.45% at $863.02