Commodities Weekly (25 Sep ’17)

Oil prices showing signs of improvementRegaining higher levels as momentum studies tick higher and the positive Tension Indicator continues to extend.

The close above $50.00 has turned focus to the $52.00 high of May.

A further close above here will open up a test of critical monthly resistance at the $55.24 high of January.

Improving background studies should limit downside tests.

An unexpected close below $49.00 will delay gains and promote consolidation.

Upgrade to Positive.

To access the full report, covering the broad Commodities ETF (DBC), Gold, Silver, Platinum, Crude Oil and Natural Gas futures, High Grade Copper futures, Corn, Soybean and Wheat futures, please click here



Comments are closed.