Free Trial

WTI Pinned Between Key Triggers

COMMODITIES
  • WTI and Brent crude futures both trade toward the upper-end of the week's range and are holding the swift recovery off the Monday low. This leaves WTI pinned between key technical triggers at the 50-day EMA of $69.99 on the way higher, and the 100-dma support at $67.41. A break below the latter opens losses toward the August lows of $65.15.
  • Silver remains weak and has underperformed gold throughout the recovery off the Monday low. This underperformance has accelerated the formation of a death cross in DMA space, adding to bearish pressure on silver. A break and close below Monday's low would be resolutely bearish, opening key Fib support at 20.751.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.