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Oil Bounce Already Fading

COMMODITIES
  • Commodity markets took the lead from global equities early Tuesday, recovering off the Monday low and trading solidly in positive territory. WTI crude futures managed to retake $71.50/bbl, but the bounce has already begun to fade with WTI just $1/bbl above the week's lows.
  • Gold and silver both trade more positively, with gold now north of Monday's highs and keeping the uptick off $1742.25 intact. Gold now faces resistance at $1777.31 ahead of the Thursday high at $1796.24.

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