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WTI Future Uptrend Remains Intact

COMMODITIES

The uptrend in WTI futures remains intact and recent weakness is considered corrective. Last week’s move lower resulted in a print below support at $78.33, the Aug 3 low. A clear break of this level would highlight a stronger bear cycle and pave the way for a deeper retracement. Note that a key support also lies at the 50-day EMA, which intersects at $77.67. Initial resistance to watch is $81.75, a break would be a bullish development. The uptrend in WTI futures remains intact and recent weakness is considered corrective. Last week’s move lower resulted in a print below support at $78.33, the Aug 3 low. A clear break of this level would highlight a stronger bear cycle and pave the way for a deeper retracement. Note that a key support also lies at the 50-day EMA, which intersects at $77.67. Initial resistance to watch is $81.75, a break would be a bullish development.


  • WTI Crude up $0.36 or +0.45% at $80.47
  • Natural Gas down $0 or -0.16% at $2.575
  • Gold spot up $3.1 or +0.16% at $1923.77
  • Copper up $1.9 or +0.5% at $381.25
  • Silver up $0.03 or +0.14% at $24.282
  • Platinum down $3.34 or -0.34% at $968.74
Energy BulletsCommodities
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