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Bearish Crude Trajectory Cemented on Break of $70/bbl

COMMODITIES

Gold traded in a volatile manner Monday. The trend condition is bullish and Monday’s initial gains reinforce this theme. The precious metal touched a fresh all-time high of $2135.4 and this signals potential for a climb towards $2177.6 next. Bearish conditions in WTI futures remain intact and yesterday’s sell-off reinforces this condition. The contract has cleared support at $72.37, the Nov 16 low. The break lower confirms a resumption of the downtrend and note too that moving average studies are in a bear-mode position.

  • WTI Crude up $0.65 or +0.94% at $69.87
  • Natural Gas down $0.06 or -2.49% at $2.513
  • Gold spot up $8.48 or +0.42% at $2033.54
  • Copper up $3.45 or +0.92% at $376.35
  • Silver up $0.09 or +0.4% at $23.9987
  • Platinum up $9.52 or +1.07% at $900.46
Energy BulletsCommodities
Energy BulletsCommodities

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