Bearish Technical Theme Persists For WTI, Gold

WTI futures traded lower Friday to register a fresh low for the week. This reinstates a near-term bearish theme and highlights potential for a continuation lower. This would open $84.94 and $82.89, Fibonacci retracement levels. On the upside, a resumption of gains would instead suggest scope for a climb towards the key short-term resistance at $93.64, the Oct 10 high. A break of this level would strengthen a bullish theme. Gold maintains a softer tone following the recent reversal from $1729.5, the Oct 4 high. A continuation lower would expose the key support and bear trigger at $1615.0, the Sep 28 low. On the upside, a break of $1729.5 is required to reinstate a bullish theme.

• WTI Crude up $0.4 or +0.47% at $86.17
• Natural Gas down $0.26 or -3.97% at $6.21
• Gold spot up $10.19 or +0.62% at $1653.36
• Copper down $3 or -0.88% at $340
• Silver up $0.21 or +1.16% at $18.4676
• Platinum up $10 or +1.11% at $911.47