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WTI, Brent Trades Toward Last Week's Lows As US Return

COMMODITIES

Oil trades heavy ahead of the NY crossover, with Brent and WTI inching back toward last week's lows. A bearish threat in WTI futures remains present following last week’s sharp sell-off. A strong reversal pattern appeared on the daily chart - a bearish engulfing candle on Aug 30. This pattern suggests potential for a stronger sell-off near-term that initially exposes key support at $85.37, the Aug 16 low and a bear trigger.

  • WTI Crude up $0.79 or +0.91% at $87.88
  • Natural Gas down $0.08 or -0.87% at $8.76
  • Gold spot up $1.69 or +0.1% at $1712.17
  • Copper up $5.9 or +1.73% at $347.95
  • Silver up $0.17 or +0.93% at $18.3336
  • Platinum down $0.78 or -0.09% at $849.47

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