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Silver Strong, But Off the Highs

COMMODITIES

Having staged retail fuelled gains of as much as 10%, silver came off the day's highs ahead of the US close, but remains well over 5% stronger at pixel time. Bulls keep their sights set high at $30/oz mark, which failed to hold in early Monday trade. Momentum will need to pick up considerably to firm the current rally.

Oil markets trade well, despite the firmer greenback. Both WTI and Brent crude futures held gains of over 1.5% apiece into the US close, with reports suggesting that disruptions in supply from Nigeria and Libya may put OPEC output targets under pressure in the coming months. Resistance for WTI and Brent crude futures remain at $53.58 and $56.59 respectively.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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