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WTI Futures and Gold Steady After Firm Reversal Lower

COMMODITIES

The reversal in WTI futures this week threatens the recent bullish theme. The contract has traded below the 50-day EMA and attention is on the 20-day EMA at $86.25. A continuation lower would open $89.94 and $82.89 - the 50.0% and 61.8% retracement points of the Sep 26 - Oct 10 rally. On the upside, key resistance is at $93.64, Oct 10 high where a break is required to reinstate a bullish theme. Gold maintains a softer tone. The recent recovery stalled at $1729.5, the Oct 4 high. A continuation lower would expose the key support and bear trigger at $1615.0, the Sep 28 low. On the upside, a break of $1729.5 is required to reinstate a bullish theme.


  • WTI Crude up $0.32 or +0.37% at $87.74
  • Natural Gas up $0.12 or +1.93% at $6.558
  • Gold spot down $0.89 or -0.05% at $1671.35
  • Copper down $0.5 or -0.15% at $341.8
  • Silver down $0 or 0% at $19.004
  • Platinum down $4.69 or -0.53% at $881.76
Energy BulletsCommodities
Energy BulletsCommodities

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