The uptrend in WTI futures remains intact. The recent break of resistance at $84.16, the Aug 10 high, confirmed a resumption of the uptrend and this maintains the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull mode position, highlighting current positive sentiment. Sights are on the psychological $90.00 handle. On the downside, initial firm support to watch lies at $82.98, the 20-day EMA. Gold is trading closer to last week’s lows. Key support to watch lies at $1903.9, the Aug 25 low. A break of this level would be viewed as a bearish development and highlight the fact that the recovery between Aug 21 - Sep 1 has been a correction. This would expose $1884.9, the Aug 21 low. On the upside, initial firm resistance is seen at $1930.5, the 50-day EMA. Key resistance is at $1953.0, the Sep 4 high.

• WTI Crude down $0.61 or -0.7% at $86.91
• Natural Gas down $0.04 or -1.57% at $2.562
• Gold spot up $7.49 or +0.39% at $1926.31
• Copper up $6.65 or +1.79% at $378.45
• Silver up $0.23 or +1.01% at $23.158
• Platinum up $9.05 or +1.01% at $904.52