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WTI, Brent Edge Off New Cycle Highs, But Uptrend In Tact

COMMODITIES
  • WTI crude futures edged higher still in early Asia-Pac hours, resulting in new cycle highs of $72.83/bbl. This marks the 15th consecutive session of higher highs for WTI - boosting the RSI back into overbought territory.
  • Today's DoE release will draw focus, with markets expecting the latest week of data to show a draw of just over 2.5mln bbls, while distillates are expected to show a small build.
  • Spot gold and silver are largely non-directional, with markets awaiting the Fed decision later today. ,Markets are on watch for any signs that the Fed are to begin considering tapering asset purchases in the near future.
Energy BulletsCommodities
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