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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.
Energy BulletsCommodities
Energy BulletsCommodities

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