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Bull Theme in Oil Boosted by Middle-East Tensions

COMMODITIES

The trend condition in Gold remains bullish and the yellow metal is trading closer to this week’s all-time high. The latest rally maintains the price sequence of higher highs and higher lows and note that moving average studies are in a bull-mode condition. A bull theme in WTI futures remains intact and this week’s rally reinforces current conditions. The rally has confirmed a resumption of the uptrend. The contract has traded through $84.87, the Sep 15 ‘23 high, paving the way for a climb towards the $90.00 handle further out.

  • WTI Crude down $0.02 or -0.02% at $86.56
  • Natural Gas down $0.01 or -0.73% at $1.761
  • Gold spot down $3.54 or -0.15% at $2287.57
  • Copper down $2.95 or -0.69% at $421.9
  • Silver down $0.15 or -0.55% at $26.765
  • Platinum down $9.82 or -1.05% at $925.07

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