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COMMODITIES: WTI Futures Falter at Test on 50-dma

COMMODITIES
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Gold 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 in a volatile manner Tuesday and the contract has recovered from its recent lows. Resistance at the 50-day EMA, at $71.63, has been pierced. A clear breach of this EMA is required to highlight a stronger reversal that would open $76.40, the Aug 26 high.

  • WTI Crude up $1.02 or +1.46% at $71.31
  • Natural Gas up $0.03 or +1.11% at $2.92
  • Gold spot down $13.89 or -0.52% at $2645.57
  • Copper down $3.2 or -0.69% at $461.7
  • Silver down $0.34 or -1.05% at $31.534
  • Platinum down $18.47 or -1.83% at $992.64
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Gold 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 in a volatile manner Tuesday and the contract has recovered from its recent lows. Resistance at the 50-day EMA, at $71.63, has been pierced. A clear breach of this EMA is required to highlight a stronger reversal that would open $76.40, the Aug 26 high.

  • WTI Crude up $1.02 or +1.46% at $71.31
  • Natural Gas up $0.03 or +1.11% at $2.92
  • Gold spot down $13.89 or -0.52% at $2645.57
  • Copper down $3.2 or -0.69% at $461.7
  • Silver down $0.34 or -1.05% at $31.534
  • Platinum down $18.47 or -1.83% at $992.64