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A short-term bearish theme in WTI futures remains intact and the sell-off last week reinforces current conditions. The contract has recently traded through a key support at $75.45, the Apr 17 low. This signals scope for a move towards $65.95, the 76.4% retracement of the Dec 16 - May 18 bull leg. Key short-term resistance has been defined at $93.42, the Jun 3 high. Initial firm resistance is at $82.48, the 50-day EMA. A bearish theme in Gold remains intact and recent gains have been corrective. Note that moving average studies are in a bear-mode position, highlighting a dominant downtrend. Furthermore the recent breach of $4024.0, the Jun 11 low, confirmed a resumption of the medium-term downtrend. Sights are on the $3900.00 handle next. Initial firm resistance is $4215.1, the 20-day EMA. Resistance at the 50-day EMA is at $4399.1.

• WTI Crude up $0.07 or +0.1% at $70.83
• Natural Gas up $0.03 or +0.88% at $3.213
• Gold spot down $0.42 or -0.01% at $4015.5
• Copper up $7.1 or +1.15% at $623.35
• Silver up $0.22 or +0.38% at $58.4645
• Platinum down $2.71 or -0.17% at $1579.74

The trend structure in EuroStoxx 50 futures remains bullish - MA studies are in a bull-mode position, highlighting a dominant uptrend. A key short-term resistance at 6174.00, the May 25 high, has recently been breached. This confirmed a resumption of the primary uptrend and maintains the price sequence of higher highs and higher lows. Sights are on the 6400.00 handle next. Firm support to watch lies at 6087.44, the 50-day EMA. The trend theme in S&P E-Minis is bullish and the latest pullback appears corrective. Note that MA studies are in a bull-mode position and this continues to highlight a dominant uptrend. Yesterday’s rally highlights a possible bullish engulfing candle - a reversal signal. If correct, it signals the end of the recent correction. Key support lies at 7292.25, the Jun 11 low. A continuation higher would open 7693.75, the Jun 2 high and M/T bull trigger.

• Japan's NIKKEI closed higher by 594.21 pts or +0.86% at 70062.32 and the TOPIX ended 12.76 pts higher or +0.32% at 3994.76.
• Elsewhere, in China the SHANGHAI closed higher by 20.495 pts or +0.5% at 4094.397 and the HANG SENG ended 145.66 pts lower or -0.63% at 22881.02.
• Across Europe, Germany's DAX trades higher by 198.4 pts or +0.81% at 24825.87, FTSE 100 higher by 36.11 pts or +0.34% at 10520.98, CAC 40 up 9.88 pts or +0.12% at 8377.21 and Euro Stoxx 50 up 37.34 pts or +0.6% at 6268.97.
• Dow Jones mini down 22 pts or -0.04% at 52547, S&P 500 mini down 4.25 pts or -0.06% at 7496, NASDAQ mini down 14.75 pts or -0.05% at 30038.