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Gold Holds Onto Bulk of Thursday's Gains

COMMODITIES

WTI futures traded higher Wednesday and in the process, the contract delivered a print above key resistance at $79.09, the Jan 29 high. This threatens the recent bearish theme and instead highlights potential for a continuation higher near-term, towards $81.70, a Fibonacci retracement. On the downside, support to watch is at $75.90, the 50-day EMA. A break would instead signal a possible top. Gold has traded higher this week and the yellow metal is holding on to its latest gains. Recent activity has defined a key resistance at $2065.5, Feb 1 high, and a key support at $1984.3, Feb 14 low. They represent important short-term directional triggers. A clear break of the Feb 1 high would highlight a reversal and open $2088.5, the Dec 28 high. For bears, clearance of $1984.3 would expose an important support at $1973.2, the Dec 13 low.


  • WTI Crude up $0.85 or +1.09% at $79.08
  • Natural Gas up $0.02 or +0.81% at $1.874
  • Gold spot up $2.2 or +0.11% at $2046.71
  • Copper down $1.9 or -0.49% at $382.85
  • Silver down $0.03 or -0.15% at $22.6447
  • Platinum down $5.39 or -0.61% at $875.35
Energy BulletsCommodities
Energy BulletsCommodities

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