WTI futures failed to hold on to yesterday’s gains. The outlook remains bearish and a resumption of weakness would open $79.63 a Fibonacci retracement and potentially $75.70 further out, the Sep 26 low. On the upside, a stronger reversal higher would instead expose the key short-term resistance at $92.34, the Oct 10 high. Initial firm resistance to watch is at $88.66, Oct 12 high. Gold is trading lower. The yellow metal maintains a bearish tone following the recent reversal from $1729.5, Oct 4 high. The move lower signals the end of the bull phase between Sep 28 - Oct 4 and note that price has moved below the trendline resistance drawn from the Mar 8 high. Sights are on the key support and bear trigger at $1615.0, the Sep 28 low. On the upside, clearance of $1729.5 is required to reinstate a bullish theme.

• WTI Crude down $1.01 or -1.2% at $83.51
• Natural Gas down $0.17 or -3.21% at $5.187
• Gold spot down $6.94 or -0.43% at $1621.05
• Copper down $2.8 or -0.82% at $338.2
• Silver down $0.25 or -1.34% at $18.413
• Platinum down $6.46 or -0.71% at $909.56