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COMMODITIES: Brent, WTI Building on Recent Gains

COMMODITIES
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Gold is in consolidation mode. The trend condition is unchanged and bulls remain in the driver’s seat. Recent gains confirm a resumption of the primary uptrend and maintain the bullish price sequence of higher highs and higher lows.WTI futures traded higher Thursday, extending the rally that started on Oct 1. Short-term gains appear to be corrective, however, the break of the 50-day EMA suggests potential for an extension near-term.

  • WTI Crude up $0.74 or +1% at $74.37
  • Natural Gas up $0.01 or +0.27% at $2.977
  • Gold spot up $4.09 or +0.15% at $2659.6
  • Copper down $0.05 or -0.01% at $455.45
  • Silver up $0.01 or +0.03% at $32.0068
  • Platinum up $10.2 or +1.02% at $1004.69
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Gold is in consolidation mode. The trend condition is unchanged and bulls remain in the driver’s seat. Recent gains confirm a resumption of the primary uptrend and maintain the bullish price sequence of higher highs and higher lows.WTI futures traded higher Thursday, extending the rally that started on Oct 1. Short-term gains appear to be corrective, however, the break of the 50-day EMA suggests potential for an extension near-term.

  • WTI Crude up $0.74 or +1% at $74.37
  • Natural Gas up $0.01 or +0.27% at $2.977
  • Gold spot up $4.09 or +0.15% at $2659.6
  • Copper down $0.05 or -0.01% at $455.45
  • Silver up $0.01 or +0.03% at $32.0068
  • Platinum up $10.2 or +1.02% at $1004.69