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WTI, Gold Retrace Off Wednesday Highs


WTI futures traded higher Wednesday. Bearish conditions remain intact though and the climb from Monday’s low is considered corrective. The contract has recently cleared support at $80.89, Sep 8 low. Gold bounced yesterday but has already started retracing the recovery. The trend outlook remains bearish. This week’s extension of the bear cycle confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs.

  • WTI Crude down $1.09 or -1.33% at $81.14
  • Natural Gas up $0.07 or +0.93% at $7.021
  • Gold spot down $14.62 or -0.88% at $1645.53
  • Copper down $3.3 or -0.98% at $332.55
  • Silver down $0.3 or -1.58% at $18.6109
  • Platinum down $17.76 or -2.05% at $849.05
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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