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WTI Futures Remain Firm After Trading Higher Thursday


WTI futures traded higher yesterday and the contract remains firm. The latest recovery has highlighted a key support at $80.20, the Oct 6 low. The medium-term trend condition remains bullish and an extension higher would expose the bull trigger at $92.48, the Sep 28 high. Clearance of this hurdle would confirm a resumption of the uptrend. For bears, a move through $80.20, would instead highlight a short-term top. Gold has traded higher this week, extending the reversal from $1810.5, the Oct 6 low. The yellow metal has breached key resistance at $1953.0, the Sep 1 high. The clear break of this level further strengthens a bullish theme and opens $1987.5, the Jul 20 high. Initial firm pivot support lies at $1904.7, the 50-day EMA. Clearance of this level is required to signal a short-term top and a potential reversal.

  • WTI Crude up $1.33 or +1.49% at $90.7
  • Natural Gas up $0 or +0.1% at $2.961
  • Gold spot up $9.16 or +0.46% at $1983.62
  • Copper down $2.7 or -0.75% at $357.45
  • Silver up $0.19 or +0.81% at $23.2284
  • Platinum up $6.37 or +0.71% at $901.57

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