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Oil Seeing Support, Precious Metals Rangebound

COMMODITIES
  • Both WTI and Brent crude futures traded through the Friday highs early Monday, further supporting the bullish argument as prices remain buoyant.
  • A resumption of Brent (K1) weakness would open $65.04, the 20-day EMA. The bull trigger is at $71.38, Mar 8 high. In WTI (J1) a deeper pullback would open $61.92, the 20-day EMA. Key resistance is at $67.98, Mar 8 high.
  • Precious metals are more rangebound, but prices are shrugging off the slight improvement in the USD index from the open. Silver is outperforming modestly, higher by 0.7% or so, but prices remain well below last week's highs printed mid-week at $26.459, which remain the first upside target.
Energy BulletsCommodities
Energy BulletsCommodities

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