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WTI Futures Breach Resistance at Late December High

COMMODITIES

WTI futures traded higher yesterday. The contract has breached resistance at $76.31, the Dec 26 high. A clear break of this hurdle undermines the recent bearish theme and highlights a stronger short-term bullish condition. A continuation higher would signal scope for a climb towards $79.56, the Nov 30 high. On the downside, a reversal lower would refocus attention on $69.56, the Jan 3 low. Gold is unchanged and remains above the Jan 17 low of $2001.9 - for now. The recent print below the 50-day EMA and the break of support at $2013.4, the Jan 11 low, has strengthened a bearish threat and a resumption of weakness would open a key level at $1973.2, the Dec 13 low. For bulls, clearance of 2062.3, the Jan 12 high, is required to signal a reversal. This would expose $2088.5, the Dec 28 high.


  • WTI Crude down $0.66 or -0.85% at $76.69
  • Natural Gas up $0.07 or +2.68% at $2.643
  • Gold spot up $0.61 or +0.03% at $2021.58
  • Copper down $0.65 or -0.17% at $385.8
  • Silver up $0.01 or +0.03% at $22.9215
  • Platinum up $5.11 or +0.57% at $898.88
Energy BulletsCommodities
Energy BulletsCommodities

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