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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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Oil Curve Strengthens Further


Both WTI and Brent extended the recent strength to prompt new cycle highs for both benchmarks and boost Brent above $60/bbl for the first time in over a year. Early USD strength was no blocker, but prices got a further boost as this trend reversed into the Monday close.

Commodity strength was soon across the board, however, with copper, iron ore and precious metals prices similarly gaining. Spot gold recovered back above the Thursday highs, but has to retake the 200-dma at $1854.24 to recover any upside impetus.

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