WTI Futures Short-Term Conditions Bullish

WTI futures remain in a medium-term bear mode condition, however, a corrective cycle remains in play and the contract has breached resistance at $72.72, the Jun 21 high, This strengthens a short-term bullish condition and a continuation would expose key resistance at $75.70, the Jun 5 high. A break of this level would highlight an important bullish break. On the downside, key short-term support is at $66.96, the Jun 12 low. Gold is consolidating. The trend condition is unchanged and remains bearish. Recent fresh lows reinforce bearish conditions, confirming a resumption of the downtrend and extending the price sequence of lower lows and lower highs. Moving average studies are in a bear mode position highlighting current sentiment. The focus is on $1885.8, the Mar 15 low. Key resistance is $1985.3, the May 24 high. Initial resistance is $1944.3, the 50-day EMA.

• WTI Crude up $0.66 or +0.9% at $73.65
• Natural Gas down $0 or -0.11% at $2.666
• Gold spot up $10.95 or +0.57% at $1936.36
• Copper up $0.95 or +0.25% at $379.45
• Silver up $0.07 or +0.3% at $23.2075
• Platinum up $2.61 or +0.28% at $934.93