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WTI Futures Continue to Trade Above Key Resistance at $75.70

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The current bull cycle in WTI futures remains intact. The contract has recently breached $72.72, the Jun 21 high and yesterday’s move higher resulted in a break of key resistance at $75.70, the Jun 5 high. This strengthens current bullish conditions and paves the way for a climb towards $78.03, a Fibonacci retracement point. Key short-term support has been defined at $66.96, the Jun 12 low. Initial support is at $71.83, the 20-day EMA. Gold traded higher again yesterday and in the process managed to trade through resistance at the 50-day EMA. The average intersects at $1944.4 and the break signal scope for a continuation of the current corrective cycle. This opens $1968.00, the Jun 16 high. Key resistance has been defined at $1985.3, the May 24 high where a break would highlight a stronger reversal. Key support and the bear is at $1893.1, the Jun 29 low.


  • WTI Crude up $0.09 or +0.12% at $75.94
  • Natural Gas up $0.01 or +0.27% at $2.64
  • Gold spot up $2.75 or +0.14% at $1960.57
  • Copper up $1.05 or +0.27% at $386.45
  • Silver up $0.08 or +0.32% at $24.2075
  • Platinum up $7.06 or +0.74% at $961.97

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