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Price Signal Summary - WTI Gains Expose Key Resistance

OUTLOOK
  • On the commodity front, the trend condition in Gold remains bullish. Short-term pullbacks are considered corrective. Recent trend highs confirm an extension on the current uptrend and maintain the positive price sequence of higher highs and higher lows. The focus is on $1934.4 next, the Apr 25, 2022 high. Support to watch lies at $1850.4, the 20-day EMA.
  • In the Oil space, WTI futures retain a short-term bull theme. A continuation higher would signal scope for a test of resistance at $81.50, the Jan 3 high and a bull trigger. Clearance of this hurdle is required to strengthen a bullish theme. The broader trend outlook still appears bearish. Initial key support to watch is at $72.46, the Jan 5 low.
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Metals bulletHomepagemarkets-real-timeCommoditiesEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange BulletsEnergy Technical Analysis

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