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Bull Theme in WTI Underpinned

COMMODITIES

The trend condition in Gold remains bullish and the yellow metal has traded to fresh all-time highs once again this week. The move higher 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 and confirms 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 $0.21 or -0.25% at $85.24
  • Natural Gas down $0 or -0.16% at $1.837
  • Gold spot down $8.54 or -0.37% at $2292.46
  • Copper up $4.45 or +1.06% at $423.65
  • Silver down $0.14 or -0.52% at $27.0795
  • Platinum down $1.71 or -0.18% at $940.22

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