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Price Signal Summary - Bearish Threat In WTI Remains Present

  • On the commodity front, the recent strong reversal in Gold signals the end of the recovery between Sep 28 - Oct 4 and note that price has moved below the trendline resistance drawn from the Mar 8 high. The focus is on $1615.0, the Sep 28 low.
  • In the Oil space, WTI futures traded lower Friday to register a fresh low for the week. This reinstates a short-term bearish theme and opens $84.94 and $82.89, 50.0% and 61.8% retracement points of the Sep 26 - Oct 10 rally. Price Signal Summary - WTI Bear Threat Remains Present

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