WTI Uptrend Remains Intact
The uptrend in WTI futures remains intact. The recent break of resistance at $84.16, the Aug 10 high, confirmed a resumption of the uptrend and this maintains the bullish price sequence of higher highs and higher lows. Gold is trading closer to this week’s lows. Key support to watch lies at $1903.9, the Aug 25 low. A break of this level would be viewed as a bearish development and highlight the fact that the recovery between Aug 21 - Sep 1 has been a correction.
- WTI Crude down $0.28 or -0.32% at $86.56
- Natural Gas up $0.03 or +1.2% at $2.609
- Gold spot up $4.75 or +0.25% at $1924.47
- Copper down $2.65 or -0.7% at $373.65
- Silver up $0.07 or +0.31% at $23.043
- Platinum down $2.58 or -0.28% at $907.2