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Energy, Metals Consolidate, But Still Tightly Wound

COMMODITIES
  • Oil markets are consolidating ahead of the Tuesday open, with WTI and Brent crude futures in minor negative territory at pixel time. WTI has, so far, traded wholly inside the Monday range, with directional triggers unchanged at $63.90 and the $62.51 50-dma, with the May 5 high at $66.76 the key upside level.
  • In metals space, gold and silver are recovering off the overnight lows as the greenback edges lower, but there's been little momentum pick-up on the way into Monday's highs. For gold, resistance is expected headed into $1845.51, with silver's next level seen at $27.88.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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