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Trend Outlook in WTI Remains Bearish Into OPEC

COMMODITIES

The trend condition in Gold remains bullish and last week’s gains reinforce this set-up. The yellow metal has started this week on a bullish note and traded through resistance at $2009.4, the Nov 7 high. A clear break of this hurdle would confirm a resumption of the uptrend. The trend outlook in WTI futures is unchanged and remains bearish. Attention is on support at $72.37, the Nov 16 low. A break would confirm a resumption of the downtrend that started late September and maintain a price sequence of lower lows and lower highs.

  • WTI Crude up $0.7 or +0.94% at $75.54
  • Natural Gas down $0 or -0.07% at $2.792
  • Gold spot up $1.86 or +0.09% at $2015.53
  • Copper down $0.1 or -0.03% at $379.8
  • Silver up $0.01 or +0.02% at $24.6505
  • Platinum up $3.38 or +0.37% at $925.94
Energy BulletsCommodities
Energy BulletsCommodities

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